Wei Jianjun

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Name: Wei Jianjun 

Country: China

Date of birth: 1964 

Education: Bachelors of Arts 

Type of Business: Automobile   

Main Achievements: Wei Jianjun is the head of Great Wall Motors, the largest manufacturer of Sports Utility Vehicles in China. At a young age of 26 in 1990, the successful entrepreneur got in charge of the Great Wall Automobile Industry Company. It was the predecessor of his current company and was plagued with debt at that time. The tycoon appeared on the Forbes List of Billionaires in 2020. He also made it to the China Rich List in 2019. Wei enjoys a net worth of $4 billion, as of the year 2020. 

Something interesting about Wei Jianjun: Before establishing his automobile company, Wei served at a water-pump factory and a carpet factory.

Biography

Wei Jianjun, a renowned name of the automobile industry, was born in the city of Beijing in 1996. Currently, he resides in the city of Baoding, situated in the Chinese province of Hebei. His father initiated his business in the domain of industrial equipment after leaving the People’s Liberation Army. To join his father in the business venture, Wei terminated his degree in the university. In the early days, the Great Wall struggled to climb the ladder of success and was merely a repairing and modification company for vehicles in 1980. Wei and his father’s company was swimming through dangerous waters, and by 1990, it amassed a loss exceeding 1 million Yuan. Great Wall was on the verge of being bankrupt. 

Wei took over the Great Wall at the age of 26 and occupied the position of its General Manager. He made an agreement to give a specific share of the profits to the conjoint owners of the company. However, he decided to keep the major part of the profit for himself. Wei introduced certain changes in the company by diverting its emphasis from the modification of vehicles to producing them. In 1993, Great Motors launched a saloon car of cut-rate under Wei’s management. 

Nevertheless, in 1994, a new government policy was introduced, which did not allow companies external to the ‘national catalog’ to manufacture saloons. Wei made the best use of his brilliance and entrepreneurial wisdom and comprehended the demand for pickup trucks in the Thailand market. Although not in massive need in China, pickups were tremendously popular in Thailand. In 1996, Wei’s company produced its first pickup truck. It took two years for the business to flourish, and by 1998, Great Wall’s Deer brand was leading the automobile market. Wei’s resilience to the hardships and consistency of hard work reaped its fruit and set him out on the journey of success. He has been credited with laying the foundations of Great Wall’s thriving design and concept. Wei Jianjun focused mainly on producing the finest quality products and continually improving them. 

The business mastermind is among the top directors of his company, which has always worked as an independent automobile manufacturer. Great Wall Motors has never collaborated with any external or foreign auto manufacturer. It has been named after the ‘Great Wall of China.’ It trades SUVs under the tags of WEY and Haval and sells trucks and passenger cars under the label of Great Wall. The renowned Chinese company hit a sales record in 2016 by selling 1,074,471 cars around the world. It was 26% increased sales then the preceding year. WEY, a new SUV brand, was released by Great Wall Motors in 2017. The first electric new energy vehicle was produced by Wei’s company in 2017. It was called C30EV. In 2018, the company collaborated with BMW, a German car manufacturer, to make mini electric vehicles within China. As of 2020, Wei intends to expand his business to India. He has expressed his plan to purchase a car plant in India. Moreover, the company is also heard of establishing its network in Thailand, as of February 2020. 

Links

https://www.scmp.com/business/companies/article/1609146/billionaire-profile-wei-jianjun-great-wall-motors
https://www.bloomberg.com/profile/person/6076856