Great Wall Motor to invest at least 8 bln yuan in R&D by 2015-report

BEIJING, March 7 Thu Mar 7, 2013 3:01am EST

BEIJING, March 7 (Reuters) - Great Wall Motor Co Ltd , China's largest SUV maker, plans to invest at least 8 billion yuan ($1.29 billion) in research and development by 2015, its president said on Thursday.

The company will invest 5 percent of its annual revenue in R&D by 2020, up from around 4 percent last year, internet portal quoted Wang Fengying as saying on the sidelines of China's parliament in Beijing. ($1 = 6.2181 Chinese yuan) (Reporting by Fang Yan in BEIJING and Kazunori Takada in SHANGHAI)