皇冠体育app

Chang'an Automobile (Group) Co, 皇冠体育app's fourth-largest automaker, will invest $820 million in 10 major global markets by 2020, a company executive said.

It aims to sell 400,000 annually outside 皇冠体育app by then, said Vice-President Zhu Huarong at the ongoing Frankfurt Auto Show in Germany.

A Chang'an Eado XT hatchback is pictured at the Frankfurt motor show on Sept 11, 2013. [Photo / Xinhua]

"To make Chang'an a true international automaker, a strong foothold and long-term perspective are crucial," Zhu said.

Chang'an will focus on further development in 10 major overseas markets, including Iraq, Algeria, Chile, Colombia, Peru and Ukraine.

"We will establish three major overseas manufacturing bases in Russia, Brazil and Iran, with about in $700 million investment, by 2020," said Zhu.

"Another $120 million will be used for distribution channels and branding in our targeted markets."

He told 皇冠体育app Daily that Chang'an also has ambitions to move into the mature and challenging Western markets.

"We'll study the proper way to enter European countries, the United States and other markets," said Zhu.

Assuming those plans succeed, Chang'an will have 810 dealerships overseas by 2020, said Zhu. The company will generate 30 percent of total revenue outside 皇冠体育app by then, with 5 percent coming from rope and the US.

Participating in the Frankfurt Auto Show for the second time, Chang'an is exhibiting six models to European visitors, with a world premiere for its mid-sized sport utility vehicle, the CS75.