Dongfeng Peugeot Citroen builds third China plant

Dongfeng Peugeot Citroen Automobile Company Ltd. started building its third assembly plant in China on Wednesday in central Hubei province in a bid to meet rising demand in the world' s largest auto market.
The plant will be fully operational in 2015 with an annual production capacity of 300,000 units, said Qiu Xiandong, a deputy general manager of the fifty-fifty joint venture between major Chinese carmaker Dongfeng Motor Corp. and French carmaker PSA Peugeot Citroen.
The project's first-phase, with an annual capacity of 150,000 units, is expected to begin operating in September 2013, Qiu said.
Its two existing plants have a combined annual capacity of 450,000 units.
The new plant in Wuhan, capital of Hubei, will mainly launch energy-saving and new energy vehicles at the same pace as PSA Peugeot Citroen's European plants, Qiu said.
Last year, Dongfeng Peugeot Citroen set a target of having a market share of five percent with annual sales of 750,000 units.
Last year, its sales exceeded 370,000 units, sharply higher than the 270,000 units in 2009.
Weekly review May 12 No winners in U.S. hi-tech export controls May 12 China should view livelihood issues from strategic perspective May 11 Syria will not be another Libya May 06 Beijing-Shanghai high-speed railway to launch 10-day trial run May 14 The week in pictures May 11 2000-year-old wine unearthed in Henan province May 11 Scientist: China plans to build lunar research base May 09 Apple employee, customer reach settlement after Beijing iPad brawl May 12 Wenchuan Reconstruction: 'Chinese miracle' impresses world May 12 No winners in U.S. hi-tech export controls