Jeep is the world's best-selling SUV brand, but Chinese billionaire Wei Jianjun says that's going to change. He has set a target for Great Wall Motor Co.'s Haval brand to take over the top spot in three to four years.
As part of the plan, Great Wall's chairman has started construction of a research center the size of 35 soccer fields in Baoding, about 100 miles from Beijing, according to Bloomberg.
The Chinese company sold 279,956 SUVs in 2012, according to its annual report. That compares with Jeep's global sales of more than 700,000 vehicles last year, according to Bloomberg.
Great Wall would need to step up its presence in Europe and the United States to achieve Wei's goal. Great Wall executives say they expect to begin selling vehicles in the United States around 2015.