Major automakers devoted to own-brand cars
16 August 2007
China's major automakers will spend large amounts of their capital toward developing their own-brand vehicles, according to Shanghai Securities News (in Chinese). China FAW Group Corporation (FAW) has announced plans to invest US$1.7 billion to develop own-brand vehicles, and Dongfeng Auto has said will build a US$1.32 billion factory in Wuhan Economic Development Zone for domestic-brand sedan production. Shanghai Auto has announced it will spend US$3.56 billion over the next five years on development. Most of the funds will be used for developing domestic-brand cars.