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China's Changan Auto to set up plant in Shenzhen

From Reuters| August 26 , 2010 13:54 BJT

China's Changan Auto plans to build an auto plant with a total investment value of 8.5 billion yuan ($1.25 billion) in southern China, the China Business News reported on Thursday.

Changan will use its joint venture between listed Chongqing Changan Automobile (000625.SZ) and PSA Peugeot Citroen (PEUP.PA) to produce 200,000 vehicles per year in Shenzhen, the newspaper said, citing the company.

Changan has set a sales goal of 3 million units by 2015 and 5 million units by 2020, the report added. ($1=6.799 Yuan)

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