Chery to expand production capacity to over 1 million units

• Source: Global Times
• [18:52 January 25 2010]
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China's leading private carmaker Chery will add 400,000 units to its current capacity to total more than 1 million vehicles after it completes its new plants in Dalian in 2011 and Wuhu in 2012, according to China Business News (CBN).

Jin Gebo, assistant to Chery's general manager told CBN that the company's new plants will raise its production capacity, as well as the ability to do research and development.

Chery is starting a 1.61 million square meter construction project at a cost of 10 billion yuan ($1.47 billion) in Wuhu, Anhui Province in eastern China.

On January 22, Chery set this year's sales target at 700,000 vehicles, but a source working in Chery said the automaker aims to surpass BYD which has a sales target of 800,000 units this year.

Chery sold over 500,000 units in 2009, becoming the best-selling home-grown brand.

Agencies and Shi Jierui contributed to this story