Bloomberg News

Great Wall Prepares ‘Big Investment’ in Brazil Factory

October 11, 2011

(Corrects in second paragraph that drop is in China shares.)

Oct. 11 (Bloomberg) -- Great Wall Motor Co. is preparing for a “big investment” project to build a factory in Brazil, Great Wall General Manager Wang Fengying told reporters today at an auto industry event in Chengdu, China.

A drop in the price of Great Wall Motor’s shares in Shanghai is the result of market volatility and isn’t the company’s fault, Wang said. Shares were trading at 12.21 yuan as of 11:30 a.m. in Shanghai today, six percent lower than the initial offering price of 13 yuan last month.

--Editor: Nicholas Wadhams

To contact the reporter on this story: Tian Ying in Beijing at ytian@bloomberg.net

To contact the editor responsible for this story: Nicholas Wadhams at nwadhams@bloomberg.net


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