Shanghai, August 19 (Gasgoo.com) The chairman of the board at Chongqing Changan Automobile Co has confirmed that the company plans to build a new production facility for small vehicles with an initial investment of 2.5 billion yuan ($366.2 million).
Xu Liuping said that the existing plants of Changan Ford Mazda Automobile will eventually reach full capacity within the next two to three years.
The new facility, based in the southwestern city of Chongqing, is expected to have an annual production capacity of 300,000 units when it starts operations in 2012.
According to Xu, with the addition of this third plant, Changan Auto's overall production capacity will be raised to 2.1 million units per annum, qualifying the automaker under the Chinese State-owned Assets Supervision and Administration Commission's (SASAC) criteria as one of the largest automotive groups in the country.
However, Robert Graziano, president of Ford China, said that a decision on the establishment of a third plant has not yet been taken by the automaker's parent company in the United States.
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