State-owned carmaker Beijing Automotive Industry Holding Co. Ltd. (BAIC Group) plans to invest 3.6 billion yuan (US$591.83 million) on a new production plant in Yunnan province, National Business Herald reported Monday, citing a company statement. The first batch of the project will be put into operation in 2015, the report said. The Yunnan plant is an important step to achieve the firm’s annual sales target of 3.5 million to 4 million units by 2015, an unnamed business insider was quoted as saying. The company’s car sales this year may surpass two million units, according to the report.
– Contact HKEJ at [email protected]