Automakers in China are moving to broaden their gap in the sedan market and Great Wall Motors Co. is not being left behind. Under the leadership of billionaire Chairman Wei Jianjun, the company plans to launch its luxury 'WEY' brand on Nov. 16.

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Details of the upcoming line-up and marketing schedule are yet to be released once these are finalized, the company said in a statement.

Meanwhile, Wei managed to make Great Wall one of China's biggest SUV maker, offering Chinese consumers comfortability at a cheaper price as compared with foreign brands like BMW. Such key quality allowed Great Wall to enjoy a 33 percent growth in sales last month, thereby helping the company stay among leading motor companies.

Managing director and researcher at Autoforesight Shanghai Co. Yale Zhang in a statement explained that the company has every necessary aspect that will favor the growth of the company.

"It's time for established local Chinese automakers to go upscale given that they have the technology and product reserves," he explained. "With a new brand, Great Wall will be able to market higher priced models to consumers that it would have otherwise found difficult to attract using existing brands."

Great Wall's H6, arguably the most popular SUV in China today, retails at 88,800 yuan ($12,830), cheaper than half the price of the VW Passat Sedan.

The stereotype of Chinese companies being cheaper is something that both Korean and Japanese car manufacturers are looking to bank on in their new business venture.

Looking for a new rather than an expensive clientele may seem a good business venture for Great Wall. However, Hong Kong-based Bloomberg Intelligence analyst Stephen Man believes that this might be quite challenging than as projected.

In a statement, Man said that the marketing team faces a greater challenge as new versions had yet picked up from the H6. "The automaker has yet to realize the potential of the Haval H8 and H9 SUVs' which have higher price points than its popular H6," he said.

Tagschina, Great Wall Motors Co., Auto Foresight Shanghai Co.