Chinese car manufacturer Great Wall Motor Co. has unveiled its plans to penetrate the world market with the opening of its new overseas research and development base.
Great Wall launched its new R&D office last Jan. 12 in Yokohama, Japan. Hu Shunje, head of the five-man office, said that their goal is to gain a variety of technological knowledge in fields like self-driving and environmentally friendly cars from their Japanese counterparts, Canmua reported.
The company said that it chose Yokohama as the site for its first overseas R&D office as the city is home to a multitude of auto suppliers under the helm of Nissan, Japan's second largest car manufacturer. Great Wall Motor also said that the city is currently on an aggressive bid to attract more foreign investors, which made their entry very welcomed.
As many as 200 people are expected to eventually work in the new office in the future.
According to Hu, the move to set up an overseas research office underscores the company's efforts to enter the global market. "We understand that without global research and development, we won't be able to provide global customers with high-quality products and services," he stressed.
He also said that they currently have several sales networks all over Asia, Africa and South America.
Great Wall Motor's moves followed a series of moves made by other Chinese car manufacturers to break into developed markets like the United States and Europe. Zhejiang Geely Holding Group Co. currently runs a joint research center in Gothenburg, Germany, through Volvo Car, which it acquired in 2010.
Meanwhile, China's largest automaker, SAIC Motor Corp., has set its sights on Silicon Valley for latest technological developments.
Investors responded positively on the news, with the company's stock rising 2.7 percent, Bloomberg reported.
Great Wall Motors experienced a 17-percent growth last year, delivering 853,000 units.