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China's Changan Auto to Launch 30 Own Brand Models Before 2010

SHANGHAI - October 15, 2007:

Changan Auto Group, Ford Motor's Chinese partner, plans to launch 30 of its own branded vehicles within the next three years, Xinhua News Agency reported.

Under Changan's plan, the automaker will invest 12 billion yuan ($1.6 billion) to develop local brands; the company aims to launch 30 complete vehicles and 12 engines before 2010, the company's CEO, Xu Liuping said.

“By 2010, Changan's production capacity will reach 2 million units, 1.2 million of which will be our own brand vehicles,” Xu added.

From 2000 through 2005, Changan Auto has invested 4.5 billion yuan ($599 million) developing new engines and sedans with independent intellectual prosperity rights. In this period, Changan has delivered six concept and ten complete vehicle products.

The Chongqing-based automaker has now established three R&D centers in Chongqing, Shanghai and Europe. However, the automaker is planning to build another R&D center in Japan, the Xinhua report said.

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