Wei is China’s largest SUV and pickup manufacturer’s controlling family. Great Wall Motor was established as Great Wall Automobile Industry Company in 1984 and is currently headquartered in Baoding, Hebei, China. A former carpet and water pump factory worker, Wei Jianjun took over leadership of Great Wall Motor in 1990 when he was 26 and is credited for its success.
After University, Wei Jianjun joined his father, a former member of China’s People’s Liberation Army who had started his own industrial equipment business. Wei made an arrangement with Great Wall Motor, who was struggling financially and primarily manufacturing auto parts. Under Wei’s leadership, the company changed focus to auto production and launched a low-cost saloon model in 1993.
When China’s auto-manufacturing policy changed in 1994, Wei targeted light-duty passenger and cargo vehicle markets. Today, Great Wall Motor is one of China’s largest private companies, with over 63,000 employees and yearly revenue of $14.4 billion. Wei Jianjun remains its Chairman and has an estimated net worth of $3.4 billion.
