2010-08-26 14:07

China's Changan Auto plans to invest 8.5 billion yuan ($1.25 billion) to build an auto plant in Shenzhen, the costal city in China's Guangdong province, the China Business News reported on Thursday.

The joint venture, co-owned by Chongqing Changan Automobile and PSA Peugeot Citroen, will produce 200,000 vehicles per year in Shenzhen, the report cited the company as saying.

Changan has set a sales goal of 3 million units by 2015 and 5 million units by 2020, the report added.