Global Review 2022: GWM Expands Its Global Layout, Empowered by Forest Ecosystem

Rhea-AI Summary

On January 16, 2023, a documentary aired showcasing GWM's advancements in hybrid technology, power batteries, and global strategy. Despite challenges in the automobile market, GWM made strides in its globalization strategy in 2022, heavily investing in technology R&D, totaling over CNY 8.5 billion, a 64% year-over-year increase. GWM introduced new energy products and entered luxury markets with its WEY brand, achieving high safety ratings. Additionally, the company is advancing in hydrogen energy, earmarking CNY 2.5 billion for fuel battery vehicle production, positioning itself as a leader in the intelligent technology sector.

Positive

• In 2022, GWM invested over CNY 8.5 billion in technology R&D, a 64% increase YoY.
• GWM has launched new energy products, enhancing its market position in various countries.
• The brand WEY has successfully introduced luxury new energy vehicles, gaining market recognition.
• GWM TANK's HEV/PHEV models are leading in industry electrification.
• GWM has invested CNY 2.5 billion in hydrogen fuel battery vehicles for mass production.

Negative

• None.

BAODING, China, Jan. 20, 2023 /PRNewswire/ -- On January 16, a documentary featuring GWM went on air, depicting the advantages of GWM in hybrid, power batteries, intelligentization and its global strategic layout.

In 2022, GWM moved forward the globalization strategy steadily through the Forest Ecosystem even under the continuous impact of factors challenging the global automobile market, such as supply chain shortage and the epidemic.

The Forest Ecosystem, centered on the new energy and intelligence, has a unique systematic advantage. Mr. Jack Wei, Chairman of GWM, mentioned in the documentary that GWM upholds the R&D concept of "precise investment and continuous pursuit of leading technology".  In 2022, GWM has continued to increase the investment of technology R&D in the Forest Ecosystem. The total investment in the first three quarters exceeded CNY 8.5 billion, up over 64% YoY.

The technology in this ecosystem that GWM accumulated for years has continued to bear fruit. GWM has built a product matrix of new energy products, including HEV, PHEV, and EV to meet the differentiated requirements of global markets. In 2022, HAVAL, a SUV brand of GWM, officially released the new energy strategy, and introduced Hybrid models in several markets, such as Australia, Chile, Pakistan, South Africa, Thailand, and Brazil, and has been highly recognized by the markets and consumers.

Furthermore, GWM has been expanding its layout in the luxury new energy vehicle market. GWM WEY, a high-end intelligent new energy brand, has launched Coffee 01 and Coffee 02 with a combination of luxury and advanced technology. These vehicles promoted GWM to develop the European new energy market. The WEY Coffee 01 equipped with the HPilot system, a cutting-edge smart driving assistance system, has won the five-star Euro NCAP safety rating. GWM TANK, the premium off-road SUV brand, has launched the TANK300 HEV and TANK500 HEV/PHEV, which lead the electrification transformation of the industry.

GWM also has gained a systematic advantage in hydrogen energy by leveraging forest ecosystem. It currently has established an integrated supply chain ecosystem, which includes hydrogen "production-storage-transportation-refueling-application". As for the development of hydrogen energy, GWM has invested CNY 2.5 billion in total in hydrogen fuel battery vehicles to put it into mass production.

GWM boasts the most demanding criteria for the quality and technology of its products. It already has core technology reserves and supply chain capabilities in the new energy and intelligence fields, and has kept ahead through significant cutting-edge investments, Jack Wei mentioned.

He also said that the new energy and intelligent technology have brought enormous growth potential for GWM. With "ONE GWM" as the core strategy, the company will increase technology R&D investment in the future to accelerate the transformation into a global intelligent technology company.

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SOURCE GWM

FAQ

What is GWM's investment in technology R&D for 2022?

GWM invested over CNY 8.5 billion in technology R&D in 2022, representing a 64% increase year-over-year.

What new markets has GWM expanded into with its new energy vehicles?

GWM has expanded into markets including Australia, Chile, Pakistan, South Africa, Thailand, and Brazil with its new energy vehicles.

What is the significance of the WEY Coffee 01 vehicle?

The WEY Coffee 01 has received a five-star Euro NCAP safety rating and is part of GWM's expansion into the luxury new energy vehicle market.

How much has GWM invested in hydrogen fuel battery vehicles?

GWM has invested CNY 2.5 billion in hydrogen fuel battery vehicles for mass production.

What strategy is GWM following for its future development?

GWM is focusing on the 'ONE GWM' strategy to accelerate its transformation into a global intelligent technology company.