China's Great Wall Motors is packing up its European headquarters in Munich, Germany and laying off 100 employees. The remaining business must be handled from China.
While Aiways is trying to save the business by moving out of China, Great Wall Motors is chomping at the bit in the opposite direction.
The group, which consists of several car brands, is now giving up running a European head office. According to the German Manager Magazin, Great Wall Motors is closing its head office and laying off 100 employees in the process.
Manager Magazin bases the story on a number of 'insider sources'. But this does not mean that the Great Wall will disappear completely from Europe.
In countries where the car brand has already settled, such as Sweden, Ireland, England and Germany, you will still 'be present'.
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It is not known, however, whether this only means servicing existing customers, or whether Great Wall will continue to sell cars in our latitudes.
According to the German media, however, the Chinese brand is dropping an otherwise planned expansion of the business, which included Austria and Switzerland. Allegedly, the car brand was so far along in the process that they had already hired new managers and rank-and-file employees. But now they don't get a job anyway.
However, an exit from Europe is not the only thing Great Wall Motors can talk about these days. Recently, the car brand has scaled back its otherwise grandiose ambitions. Among other things. the brand will no longer sell one million cars outside of China in five years – namely in the period between 2025 and 2030.
The brand blames a 'challenging' market. Great Wall Motor itself will not say much about the withdrawal. But the people stress that the brand will still live up to its commitments on the continent, reads a statement.
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