China's Great Wall Motor staying in Russia 'for time being'

CNOOC says it's 'too early' to consider stepping in where Western peers leave

A Great Wall electric vehicle is displayed at the Bangkok International Motor Show on March 22: The Chinese carmaker plans to keep operating in Russia, where it has its only overseas plant. © Reuters

KENJI KAWASE, Nikkei Asia chief business news correspondent

March 30, 2022 19:12 JST

Updated on March 30, 2022 23:34 JST

HONG KONG -- China's biggest SUV maker, Great Wall Motor, says it has no immediate plans to exit Russia, its top overseas market, but warned that the Ukraine war and Western sanctions could force it to make "some adjustments."

Meanwhile, CNOOC, one of China's big three state-owned oil conglomerates, confirmed that its project in Russia remains intact, and that it is too early to comment on the company's next move in the country, including whether it is interested in filling the potential gap after some Western companies pull out.