In December 2023, Great Wall Motor (GWM) achieved an impressive milestone by selling 29,816 new energy vehicles (NEVs), marking a substantial year-on-year surge of 168.59%. This robust performance contributed to the annual cumulative NEV sales reaching 261,546 vehicles, representing a noteworthy year-on-year increase of 98.39%. GWM's strategic foray into the new energy vehicle market with its five major brands—Haval, Ora, Tank, Wey, and GWM Pickup—yielded remarkable results, boasting an average monthly growth rate of 17.70% and an average quarterly growth rate of 57.14% throughout 2023.
A standout achievement was the Haval brand, which witnessed its cumulative NEV sales surpassing 77,000 units in 2023, translating to a remarkable year-on-year surge of 649%. In a significant development, Li Ruifeng, Chief Growth Officer of GWM, disclosed on May 22 that all GWM models would come equipped with Hi4 hybrid technology as a standard feature by the end of 2024.
As of December 29, GWM reported an unprecedented milestone in its overseas sales, exceeding 300,000 vehicles for the first time in 2023. The cumulative overseas sales have now surpassed 1.4 million vehicles. Capitalizing on this success, GWM is gearing up to expand further into the European market, following its entry into the German and British markets. The planned expansion includes penetrating eight new European markets: Italy, Spain, Portugal, the Netherlands, Belgium, Luxembourg, Austria, and Switzerland.
In November, GWM unveiled its ONE GWM European strategy, introducing the WEY 03 (formerly known as the Wey Coffee 02) to the European market. The WEY 03 is set to make its official debut in Rome with an exclusive test drive event. Simultaneously, GWM is accelerating its NEV deployment in Southeast Asian markets. On November 29, the company launched the Ora 07 (formerly known as Ora Lightning Cat), a pure electric vehicle, in Thailand. Collaborating with the Tourism Authority of Thailand, GWM also formalized a strategic cooperation agreement, focusing on sustainable green travel initiatives.
As the global adoption of NEVs gains momentum, with countries such as Norway, Iceland, Sweden, the Netherlands, and China leading the way, according to the World Resource Institute (WRI), GWM's expansion into overseas markets is poised to have a significant impact on its NEV sales. The success story unfolds as GWM not only strengthens its presence in key markets but also aligns with global trends towards sustainable and environmentally friendly transportation solutions.