FAW: Sharp increase in R&D spending on local nameplates
By Yu Qiao | 皇冠体育app Daily | Updated: 2010-04-26 08:06
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The iconic Red Flag from FAW a symbol of the New 皇冠体育app. [Yang Shen / For 皇冠体育app Daily] |
BEIJING - FAW Group, the second-largest Chinese motor group, plans to increase R&D spending on its own-brand vehicles by 50 percent over the next five years.
Xu Jianyi, general manager of the State-owned company based in the northeastern city of Changchun, announced at the Beijing auto show that FAW plans to spend 19 million yuan in own-brand R&D from 2011 to 2015, up from 12.9 billion yuan the previous five years.
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