REG - Inchcape PLC - Global Strategic Partnership with GWM

InchcapeAnnouncement

30/06/2023 07:00

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RNS Number : 5259E  Inchcape PLC  30 June 2023

30 June 2023

 

Inchcape and GWM announce Global Strategic Partnership

 

Inchcape Plc, ("Inchcape"), the leading global automotive distributor,
announces 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."

 

 

Contacts
 Inchcape plc:
 Rob Gurner                  Investor queries  +44 (0)7825 189088   investors@inchcape.com (mailto:investors@inchcape.com)
 Krishma Arora

 Media enquiries
 (Brunswick Group):
 Kate Holgate / Helen Smith                    +44 (0)20 7404 5959  inchcape@brunswickgroup.com (mailto:inchcape@brunswickgroup.com)

 

About Inchcape

Inchcape is the leading global automotive distributor, with operations across
six continents. Through the unique expertise of our people, our suite of
cutting-edge technology products, and our approach to advanced data analytics,
we provide the platform for the world's leading mobility companies to
accelerate their ambitions in markets where we and our partners want to
succeed.

 

Our distribution platform connects the products of mobility companies with
customers, and our responsibilities span from product planning and pricing,
import and logistics, brand and marketing to operating digital sales, managing
physical sales and aftermarket service channels.

 

Inchcape is driven by its purpose of 'bringing mobility to the world's
communities, for today, for tomorrow and for the better'. We are committed to
making a positive contribution to the communities in which we operate, for our
people, for society and for the planet. The Group is headquartered in London
and employs around 19,000 people globally.

www.inchcape.com (http://www.inchcape.com)

 

About GWM

GWM provides global users with intelligent and green mobility services and has
been accelerating its transformation into a global intelligent technology
company. It runs a business of vehicles and parts, covering design, R&D,
production, sales, and services, and owns HAVAL, WEY, ORA, TANK, POER, and so
on, with production and sales across the world. GWM has built the energy-and
intelligence-oriented Forest Ecosystem. In the field of new energy, GWM
focuses on three directions, including hybrid electric, battery electric, and
hydrogen energy. In terms of intelligent driving technology, GWM makes efforts
on the whole industry chain of intelligent driving, intelligent space, and
intelligent chassis. It has also built an industry-leading energy system of
"photovoltaic +distributed energy storage + centralized energy storage", and
covered the entire value chain of "solar energy - battery - hydrogen energy -
vehicle power". GWM has worldwide sales network, covering more than 170
countries and regions with more than 700 overseas sales channels and overseas
sales of more than 1.15 million vehicles. GWM Group

www.gwm-global.com (http://www.gwm-global.com)

 

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