Changan Auto plans new plant in Shenzhen

Updated: 2010-08-26 14:07

(Agencies)

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.

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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.

Changan Auto plans new plant in Shenzhen

A new-energy edition Yuexiang by China's Chongqing Changan Automobile is displayed at the Auto China 2010 in Beijing on April 24, 2010. [Photo/CFP]

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About Shenzhen

Shenzhen is located at the southern tip of the Chinese mainland on the eastern bank of the mouth of the Pearl River and neighbors Hong Kong.

The brainchild of Deng Xiaoping, the country's first special economic zone was established here by the Chinese Government in 1980. It has been a touchstone for China's reform and opening-up policy since then.

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Shenzhen 30 years

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