Great Wall Motors Co. Ltd (GWM) of China will invest 10 billion reals (about US$1.86 billion) in an automobile factory in Iracemápolis, in the southeastern Brazilian state of São Paulo, O Globo reports.

The Brazilian newspaper says GWM announced last week that it means to invest 4 billion reals by 2025 and another 6 billion reals by 2032.

The report says the Iracemápolis factory will have an intelligent production system which will produce 10 models of hybrid or fully electric vehicles at a rate of up to 100,000 vehicles a year, and that the facility is due to roll out the first of them in the second half of next year.

GWM expects the annual revenue of the factory to reach 30 billion reals by 2025, O Globo says.