Inchcape Plc, (LON:INCH), the leading global automotive distributor, has announced that it has entered into a global strategic partnership with Great Wall Motor Company Limited (“GWM”), a leading privately-owned Chinese automobile manufacturer.
Under the partnership, Inchcape and GWM will develop new areas of strategic collaboration, including opportunities for Inchcape to distribute GWM vehicles in markets where Inchcape is already present.
The first of these markets will be Indonesia, where we are pleased to announce that Inchcape and GWM are signing a Distribution Agreement today. Under this agreement, Inchcape will provide GWM with our industry-leading distribution capabilities and this will be one of the first markets where Inchcape will launch an OEM in a new market with a primarily new energy vehicle offering.
In the other markets where we work together, Inchcape and GWM are targeting ways to further drive distribution and customer experience and will be developing new areas of collaboration across used cars and auto finance.
GWM’s global leadership in both battery and hybrid electric vehicles has the potential to significantly expand Inchcape’s electric vehicle (EV) offering while GWM will benefit from Inchcape’s strong track record of successful market entries for OEMs, as well as its industry-leading capabilities across data, digital and technology services.
Duncan Tait, Group CEO of Inchcape, commented:
“Today’s announcement marks the start of an exciting new chapter for both Inchcape and GWM and is an excellent example of our strategy in action. At Inchcape we accelerate the performance of our mobility company partners, unlocking opportunities through our people and technology, and this is a prime example of how we can achieve this.
This global strategic partnership further strengthens our position as a leading distributor of Chinese OEMs. By partnering with GWM, a global leader in the production of battery and hybrid electric vehicles, we are aiming to significantly increase our global offering of EVs. In addition, the partnership will have an immediate tangible commercial impact on our business, by further increasing our presence in the exciting, high growth market of Indonesia.
We look forward to bringing more GWM vehicles into more markets, and giving more consumers globally access to their impressive EV offering.”
