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

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

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

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June 30, 2023 02:00 ET (06:00 GMT)

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