GWM has made significant strides in new energy vehicle technology, opening 1,301 patents this year, leading the Chinese market. The company's investments in R&D reached CNY 9.07 billion in 2022, focusing on advanced technologies like the L.E.M.O.N. DHT hybrid system. This technology enhances fuel efficiency and driving experience across various models, including the WEY Coffee 01 and HAVAL range. GWM aims to meet global carbon neutrality targets by expanding its lineup of new energy vehicles to offer customers eco-friendly options.
On June 2, 2022, GWM celebrated the completion of its 300,000th POER vehicle at its Chongqing Smart Factory in China. This milestone represents a rapid growth from 200,000 units delivered just eight months prior. GWM POER, known for its advanced safety features like Automatic Emergency Braking, has been well-received globally, launching in over 50 countries, including Australia and Chile. According to the National Automobile Association of Chile, GWM PICKUP sales surged by 38% in February, achieving a market share exceeding 19%. GWM plans to expand the availability of its Jingangpao model to additional markets.
GWM has launched the new GWM TANK500, a luxury SUV model in China, designed for both business and off-road use. It features a robust exterior, spacious interior with premium materials, a 3.0T+9AT power combination, and a versatile four-wheel-drive system. The vehicle has received positive feedback from users for its comfort and performance, meeting modern expectations for high-quality vehicles. GWM plans to expand its market presence by introducing the TANK500 and the earlier TANK300 to international markets later in 2022.
GWM has released its 2021 Annual Report, announcing a significant increase in research and development (R&D) investment by 76.05% year-on-year, totaling CNY 9.07 billion, representing 6.65% of operating revenue. The company focuses on new energy and intelligent technology, introducing the L.E.M.O.N. DHT hybrid system with over 50% powertrain efficiency improvement and substantial fuel savings. GWM aims to expand its global R&D workforce to 30,000 and invest CNY 100 billion over the next five years, while also building its first zero-carbon factory by 2023.
On March 22, GWM launched the Jingangpao model in Chengdu, China, garnering significant media and consumer attention. The new model showcases enhanced design features, a spacious trunk, and a robust power combination of a 2.0T engine and 6-speed manual transmission, promising excellent performance on various terrains. Equipped with intelligent technologies like automatic parking and cruise control, Jingangpao aims to transform the conventional image of pickup trucks. GWM plans to introduce this model to international markets, including Saudi Arabia and Chile, enhancing its global presence.
On March 17, ANCAP awarded the HAVAL H6 a 5-star safety rating, recognizing GWM's commitment to vehicle safety. The HAVAL H6 excelled in four key testing areas: adult occupant protection (90%), child occupant protection (88%), safety assist (81%), and vulnerable road user protection (73%). This successful outcome demonstrates that HAVAL has adapted to stringent 2022 safety protocols. With a focus on enhancing safety features, such as a high-strength steel frame and advanced airbag systems, GWM aims to deliver safer driving experiences globally.
GWM TANK300 has achieved over 50% market share in China's tough off-road segment, according to the 2021 sales report. Launched in 2021, this intelligent luxury SUV combines a 2.0T supercharged engine with an 8AT transmission for optimal power and fuel efficiency. Its off-road capabilities, including a unique 'crawl mode,' and advanced intelligent technology, such as a 360 video system, enhance safety and performance. The model has garnered accolades, including 'Best Users' Popularity Award.' The GWM TANK300 is set to enter the markets in Saudi Arabia and Australia soon.
GWM launched the HAVAL JOLION Vanta in Australia in February 2022, targeting younger consumers with its dynamic design and customization options. The vehicle features sporty upgrades, including Mars Red paint and black accents, appealing to users' desire for individuality. Intelligent configurations allow smartphone connectivity and entertainment options. Notably, HAVAL JOLION sales surged over 70% in Q4 last year, achieving top five best-selling SUV status in South Africa and Saudi Arabia, indicating growing global recognition of its youthful design.
On January 27, 2022, GWM showcased its Hydrogen-L.E.M.O.N. Technology at a major conference in Brazil, highlighting advancements in hydrogen energy. The company plans to establish a global R&D base focused on hydrogen fuel cells, investing CNY 2 billion so far and an additional CNY 3 billion over the next three years. GWM aims to produce 10,000 sets of hydrogen energy products, maintaining leadership in the market by 2025. Their technology boasts high performance, efficiency, and durability, as evidenced by successful trials in hydrogen-powered trucks.
GWM reported a strong financial performance for 2021, with total revenue surpassing CNY 136.3 billion, reflecting a 31.95% year-on-year growth. The net profit reached CNY 6.781 billion, up by 26.45%. GWM sold 1.28 million vehicles globally, marking a 15.2% increase, and launched several new models to cater to diverse customer needs. The company also made significant investments in technology and opened new international subsidiaries, enhancing its global market presence. Notably, GWM's HAVAL brand was recognized in the Brand Finance Global 500 2022.