Chery starts construction of Liaoning facility

Chery Automobile has started construction of a new 4.7 billion yuan (US$688.39 million) facility in China. The automaker said it intends to seek a stock listing in China by the first half of next year to fund the development of alternative-fuel vehicles and related technologies, among others. The facility is being developed on reclaimed land in the free-trade zone in Dalian city in Liaoning province. It will produce 200,000 vehicles per year when it becomes operational in mid-2011. (September 29, 2009)