The aim is to create a dynamic vehicle ecosystem in the interests of customers
ERGO Mobility Solutions (EMS), the mobility arm of ERGO, part of Munich Re Group and one of the largest insurance groups in Europe, and Great Wall Motor (GWM), one of China's most innovative and ambitious automakers, and currently the largest manufacturer of SUVs and pickups in China, announced the signature of a Cooperation Agreement for the introduction and establishment of two Great Wall Motor brands – WEY and GWM ORA – in European Markets. This strategic cooperation aims to position GWM as one of the key players in Europe among other importer brands in the sale of plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs), and provision of value adding products and services along the whole vehicle life cycle and around the mobility needs of the customer.
While GWM is responsible for importing the vehicles to Europe and for distribution, EMS covers insurance related products and services, with not only traditional automotive insurance products, but also innovative insurance solutions, e.g. on-demand insurance within the GWM ecosystem, addressing to the mobility needs of WEY and GWM ORA customers. The starting point for the new cooperation between EMS and GWM is the joint venture of the two companies in the Chinese automotive market, which was founded in 2020 and has been running very successfully since then. EMS has been supporting GWM's European market entry since then.
Milestone for strategic partnership
Karsten Crede, Member of the Board of Management of ERGO Digital Ventures AG and responsible for EMS: “This is a new milestone of our strategic partnership with Great Wall Motor, which sprouted in China and has been extended to Europe after only one and a half years. We are proud to support GWM in our home market, providing market insights, our strong network, and product expertise so as to jointly develop innovative and customer-centric solutions for the WEY and GWM ORA brands, and their customers.”
Johnson Qiang, Vice President of GWM Europe: “As our trusted joint venture partner in China, ERGO has already started supporting our European project in the very beginning. Beside the strong capability in the insurance domain, ERGO has also shared with us its insights and superior resources in related automotive and mobility areas. We are very grateful, and are looking forward to our further cooperation in the European markets.”
Establishment of a mobility ecosystem
To successfully introduce and establish both GWM brands in Europe, the cooperation is designed around four key pillars:
• New Brands: Introduction and establishment of new Chinese automobile brands in Europe, one being the new, innovative battery electric vehicle (BEV) brand GWM ORA, targeting young, urban customers; and the other being a new, technically outstanding premium brand WEY, launch-ing a smart premium plug-in hybrid vehicle (PHEV).
• (Digital) Sales: Usage of offline and online sales channels, in line with the strategy of both brands, to cater for traditional as well as digital-savvy car buyer’s and customer’s needs.
• Integrated Insurance and Mobility Offerings: Provision of a one-stop-shop and peace-of-mind to WEY and ORA customers along the entire lifecycle through innovative and integrated insurance and service solutions – combined with compelling mobility offerings.
• Ecosystem: Creation of a dynamic vehicle ecosystem that focuses on customer experience – not only when owning and using the car, but also when using other mobility services, or any other peripheral services and products designed especially for GWM’s customers and fans.
Karsten Crede adds: “Integrated, fully-digital insurance offerings are a key component of a comprehensive OEM ecosystem approach. To satisfy the ever-changing customer needs, we monitor market trends very closely and develop respective products and solutions tailored to the most relevant needs of our partners and their customers.”