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Shanghai Auto Beefs Up Output Target to 2 Million Vehicles by 2010
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In its quest to develop into a major global brand, Shanghai Automotive has announced plans to build 2 million vehicles by 2010, up from an expected production of more than 1.5 million this year, according to Reuters.
The Chinese automaker says it intends to focus on hybrid car production and plans to unveil more than 20 battery-powered prototypes for the Olympic Games in China next year.
"We want to use China's low costs to develop a global brand," Shanghai Automotive Chairman Hu Maoyuan told a Communist Party gathering.
By 2010, Shanghai Auto-branded vehicles should surpass 600,000 units. The company's auto ventures with General Motors and Volkswagen are China's biggest car sellers.
Source: Edmunds.com |
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