GWM has reached a strategic cooperation agreement with Teyseer Motors, a Qatar-based automotive dealer.
Great Wall Motors (GWM) has officially signed a strategic cooperation agreement with Teyseer Motors, a well-known local automobile distributor in Qatar, to continue implementing the "ONE GWM" brand strategy.
As part of the plan, GWM's Qatar showroom is set to grandly open, adding a beautiful landscape to the bustling and prosperous Old Airport Road in Doha. The new showroom will display GWM's strong product lineup, including the Tank, Hi4, and GWM pickup series, among other flagship models.
The conclusion of this cooperation signifies that GWM will provide outstanding driving experiences and a more diverse, personalized range of travel options for local users in Qatar. It also marks GWM's comprehensive coverage of the Gulf Cooperation Council (GCC) markets, initiating a new journey in the GCC market.
Qingke Shi, Vice President of GWM, stated, "GWM has always adhered to a user-centric philosophy, focusing on user satisfaction, parts guarantee, and service priority, providing high-quality brand services and experiences for Middle Eastern users through practical systemized operations and service guarantees. The signing of this partnership in Qatar is a strategic milestone for both GWM and Teyseer Motors. We believe that the combined strengths of both parties will not only meet but also exceed the expectations of local users. GWM's showroom on Old Airport Road in Doha will undoubtedly become a potential popular destination, seamlessly integrating innovation, quality, and exceptional experiences."
The Middle East is a transportation hub connecting Asia, Europe, and Africa, and many Middle Eastern countries consider developing a green economy as a national development strategy, which bodes well for the development of Chinese new energy vehicles in the Middle East. Apart from Great Wall Motors, Chinese automotive brands such as BYD, Geely, Xpeng Motors, and Leapmotor have all expanded their presence in the Middle East region. By the end of 2023, a total of 9 Chinese automotive companies and 13 new energy vehicle brands had collectively introduced approximately 20 new energy vehicle models for sale in the Middle East.
Teyseer Motors is eagerly anticipating the cooperation between the two parties, seeing the signing of this agreement as a signal of GWM's official entry into the Qatari market. This is expected to significantly expand the choices for Qatari residents and local expatriates in the field of travel. Teyseer Motors will leverage its strong infrastructure and rich professional strength in after-sales service to provide users with a highly valuable and mutually beneficial brand and service experience.
Since 1997, GWM has been present in the Middle Eastern market for 27 years. The region's car consumers are characterized by their youth, diversity, and strong purchasing power, providing boundless opportunities for GWM's development in the Middle East.
In early 2022, GWM established its regional headquarters in Dubai, furthering its localized operations in the region. In early 2023, GWM set up a parts center in Dubai, extending its reach to the markets of the Middle East and North Africa.
Over the past year, GWM has accelerated its footprint in the GCC market. Presently, its service network spans six GCC countries, encompassing over 50 dealers. In 2023, the flagship model of GWM's overseas market, the Tank 500, was successively launched in the United Arab Emirates(UAE), Saudi Arabia, Oman, Bahrain, Iraq, and Kuwait, achieving market presence in six Middle Eastern countries.
In December 2023, At the Riyadh Motor show, GWM Vice President Qingke Shi systematically expounded on the deep implementation of the GWM brand strategy in the Middle Eastern automotive market for the first time. He emphasized GWM's commitment to a development path tightly integrating "globalization" and "localization," advancing the internationalization of the enterprise and enhancing global market competitiveness. This strategic concept will enable a broader and more focused shaping of the GWM brand in the Middle Eastern market, with more efficient touchpoints and a more unified brand image.
In the future, GWM will continue to actively deploy a long-term approach in product planning, user activities, industry exchanges, and localization, thereby facilitating a new journey for its operations in the Middle East.
As of press time, GWM closed at CNY 20 apiece, with a market capitalisation of CNY 170 billion.