Dongfeng yueda Kia gets $150m loan

• Source: Global Times
• [17:59 June 26 2009]
• Comments

By Shi Jierui

Dongfeng yueda TDC

Dongfeng yueda Kia Automobile Co. has secured a loan of $150 million from the Bank of China yesterday.

As Kia Motors' Chinese unit, Dongfeng yueda Kia plans to use the loan to invest in its second plant and fund the full introduction of the new Cerato, TDC, and an urban crossover codenamed "AMC" which will go on the market in September in China.

Dongfeng yueda Kia is forecast to sell 190,000 vehicles in 2009.