Major Chinese auto maker Chongqing Changan Automobile Co (000625.SZ) said on Tuesday it plans to invest 4.3 billion yuan ($648 million) to build a production base in Beijing.
The project, with a designed annual production capacity of 200,000 cars, is expected to start operation in June 2012, it said in a stock exchange filing.
Changan did not say how it would fund the project, but the automaker recently received regulatory approval to raise as much as 4 billion yuan via a new share offering.
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