Written by Cláudio Afonso | LinkedIn | X
Great Wall Motor (GWM) is reportedly closing its European headquarters and laying off all 100 employees, including the entire top management team, the German publication Manager Magazin revealed on Tuesday citing insiders.
Despite the closure of the European office, which is located in Munich, the brand is not withdrawing from Europe entirely as it will continue to serve its existing markets, including Germany, the UK, Ireland, Sweden, and Israel managing them from China.
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According to the publication, the previously planned European expansion to Austria and Switzerland, where teams had been set up and general managers hired, will no longer proceed.
This decision follows a recent announcement by Great Wall Motor that it was postponing its target of selling one million cars outside of China from 2025 to 2030, citing challenging market conditions.
In a statement, Great Wall Motor emphasized its continued commitment to its current European markets and existing partnerships, such as with the Emil Frey Group in Germany. However, the company acknowledged the need to adjust its approach in light of the evolving market landscape and internal challenges.
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Written by Cláudio Afonso | LinkedIn | X
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