Shanghai, August 28 (Gasgoo.com) FAW Car Co. broke ground for its own-brand vehicle expansion project on August 27, which will be completed and start production by 2010. FAW Car Co expects the facility will gain an annual capacity of 400,000 vehicles by 2012, with the capacity of independently developed vehicles reaching 200,000 units, xinhua.net reported today.
FAW Car Co.Ltd, FAW’s listed unit, is mainly engaged in the Hongqi and Besturn as its own-brand vehicles. The company’s finished first-phase production base has built 280,000 cars in these five years. The output and sales growth surpassed 40%.
Due to the limited capacity in recent years, FAW Car Co plans to upgrade its existing production capacity as well as to expand new project engineering. The company aims to develop its own-brand vehicles in the coming expansion project.
FAW Car Co said the new project will begin in this September, which covers 200,000 square meters.