Beijing Automotive Industry Holding Co. Ltd. (BAIC Group) on Thursday completed the first phase of its Huanghua motor car production plant in Hebei province, and delivered the first assembled car from the plant the same day, Xinhua news agency reported. The first phase of the production plant, which commenced construction three years ago, entailed an investment of 5 billion yuan (US$823.78 million) and will bring to BAIC an annual production capacity of 200,000 vehicles. Total investment on the plant will rise to 10 billion yuan, with phase two scheduled for completion in 2015 to double the existing production capacity. Exports to overseas markets will exceed 10,000 cars a year by 2015, sources from the production facility were quoted as saying.
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