Great Wall Motor to push offshore sales

Great Wall Motor (2333.HK) is hoping to expand its presence on the international stage by setting up five new offshore assembly plants and ramping up shipments over the next five years, state media reported. According to the automaker’s chairman Wei Jianjun, Great Wall plans to establish assembly lines in Malaysia, the Philippines, Senegal, Bulgaria and Venezuela; each facility will involve partnerships with local firms. Great Wall exported 30,000 units over the first half of 2010, the same amount as for the whole of last year, and the company hopes to meet its full-year export target of 60,000 units. Wei said exports are expected to account for 30% of total sales by 2015. Great Wall booked a first-half net profit of US$133 million, double the amount recorded last year.