December 27, 2010 / 5:48 AM / 9 years ago

SAIC invests $1.5 billion to boost own-brand car capacity: paper

BEIJING (Reuters) - Top Chinese automaker SAIC Motor Corp (600104.SS) plans to invest 10 billion yuan ($1.51 billion) in its production base in the eastern city of Nanjing in the next five years to boost capacity of its own-brand cars, the China Securities Journal said.

By 2015, the facility where SAIC’s Roewe and MG sedans are made will have an annual capacity of 1 million units, the newspaper said over the weekend.

SAIC is the only Chinese automaker that has managed to make some inroads in the country’s lucrative medium-higher end segment dominated by General Motors (GM.N), Volkswagen (VOWG.DE) and the likes.

In the first 11 months, it sold a total of 146,563 Roewe and MG cars, up 78 percent from a year earlier, company data showed.

$1=6.645 Yuan Reporting by Fang Yan and Tom Miles

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below