---
title: "China’s Great Wall Motor shuts European HQ and cuts jobs"
description: "Chinese carmaker Great Wall Motor Co Ltd. plans to shutter its European headquarters in Munich in August and lay off about 100 workers."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2024-06-04-chinas-great-wall-motor-shuts-european-hq-and-cuts-jobs/"
published: "2024-06-04T05:35:18"
lang: "en-ZA"
word_count: 217
---

# China’s Great Wall Motor shuts European HQ and cuts jobs

> Chinese carmaker Great Wall Motor Co Ltd. plans to shutter its European headquarters in Munich in August and lay off about 100 workers.

By Bloomberg · Published 4 June 2024, 07:35 SAST

## Content

The company, one of the largest independent auto manufacturers in China, is adjusting its European strategy as the electric vehicle market there becomes more challenging, it said in a [statement](https://www.press-gwm-eu.com/gwm/gwm-adjusts-its-strategy-for-europe) on its website dated 31 May. About 100 European staff members will be let go, a company representative said on Monday.

Shares in the automaker’s Hong Kong-listed arm fell as much as 9.4% on Tuesday — the biggest intraday drop since January — on news of the closure and weak May sales of 91,460 vehicles, a 9.5% year-on-year decline.

Great Wall Motor and other Chinese manufacturers are facing threats of higher import tariffs in the EU, where preliminary results of an anti-subsidy investigation are expected as early as next week. Higher tariffs would reduce the competitiveness of Chinese-made vehicles, likely adding to already-cooling demand for EVs in countries such as Germany and France which are scaling back or restricting subsidies.

The company cited numerous uncertainties in the region as a reason for pulling back. German media first [reported](https://www.manager-magazin.de/unternehmen/autoindustrie/great-wall-motor-chinesischer-autobauer-entlaesst-alle-mitarbeiter-in-europa-a-09d13986-92b0-4c1e-98e4-7fc65dab124c) the company’s plans last week.

Great Wall Motors last year reportedly sold about 6,300 cars in Europe, accounting for about 2% of its overall exports.

The carmaker’s base operations in China will assume responsibility for providing support to European distributors and continue to explore new markets, the company said.