Great Wall owner Wei Jianjun insisted on postponing the deadlines and completely eliminating all detected problems. This principled stance affected the company's market value, which decreased by 2.4 billion dollars.
The businessman himself lost 51 million dollars, but with his fortune of 6.9 billion, this is not critical. Export deliveries of the Haval H8 SUV have been shifted by three months. During this period, it is planned to refine the body's sound insulation, adjust the suspension and steering settings, and carry out other improvements.
The lost profit and costs for refining the model are estimated at 83 million dollars. The image of the Great Wall brand will also suffer. Wei Jianjun expects that this decision will serve as a clear example for the team, and the temporary drop in shares will be recouped in the long run.
On the domestic Chinese market, the Haval H8 is offered from 201,800 yuan (equivalent to 33,400 dollars).
