Shanghai, May 20 (Gasgoo.com) Haima Investment Group Co., Ltd. plans to raise funds of 2.5 billion yuan ($366 million) for the technology improvement of the 150,000-vehicle project in its commercial vehicle unit and for the new product R&D program in Haima (Zhengzhou) Automobile Co., Ltd., located in the eastern central part of China.
Haima Group's commercial vehicle unit started production in February 2009, and reached the designed capacity in November. Currently the CV unit has a capacity of 60,000 units. While since it cannot meet the market demand, expansion is badly needed, Haima Investment Group explained.
Its subsidiary Haima (Zhengzhou) Automobile Co., Ltd, aims to reach a production capacity of 100,000 vehicles, including 80,000 minivans and 20,000 small cars.
Haima to raise 2.5 bln yuan for CV tech improvement
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