FAW plans capacity expansion in China

Chinese automaker First Automotive Works (FAW) Group plans to invest 3.5 billion yuan (US$512 million) in expanding production capacity at its Chengdu facility in Sichuan province, reports Xinhua’s China Economic Information Service. Zhang Jiguang, an executive at the Chengdu Economic Development Zone, confirmed the news, stating that FAW will develop light- and medium-sized trucks at the Chengdu facility. He added that the automaker’s annual output of these vehicles will increase to 50,000 units with the addition of the Chengdu plant. (March 18, 2010)