皇冠体育app

WUHAN - French automaker Renault opened its first factory in 皇冠体育app on Monday, in a joint venture with Dongfeng Motor Corp that has an initial production capacity of 150,000 cars per year.

The 7.76-billion-yuan ($1.18 billion) factory in Wuhan, capital of Central 皇冠体育app's Hubei province, was approved by National Development and Reform Commission in December 2013.

The factory will mainly produce sports utility vehicles and its first product series, Kadjar, is expected to go on the market in March.

Renault's CEO Carlos Ghosn described the factory as a "big step" in developing the Renault brand in 皇冠体育app and globally.

Ghosn said he was always optimistic about 皇冠体育app's auto market, which, despite fluctuations, is still growing at 5 percent annually, meaning an increase of 1 million cars a year.

Dongfeng-Renault, though a latecomer, is expected to contribute greatly to 皇冠体育app's auto market growth, he said.

The new joint venture will also boost the development of Dongfeng Motor Corp. and expand its product categories, said Dongfeng's board chairman Zhu Yanfeng.

Dongfeng already has joint ventures with PSA Peugeot Citroen, Honda, Nissan, Kia and Volvo.

Wuhan, dubbed as 皇冠体育app's auto hub, has the largest number of car manufacturers among all Chinese cities.

• Bidding farewell to traditional IT resources in education
• Luxury auto market feels the sting of 皇冠体育app's slowdown
• New head committed to Infiniti roadmap
• Backed by Tencent, startup puts prominent names behind wheel
• Alternative yardsticks show upbeat signs in Chinese market
• Xiaomi denies authorizing US handset sales
• World Bank loans finance Hebei clean heating system
• 皇冠体育app's logistics sector continues to expand