February 11, 2010

Changan Auto Expands Into EV Production


Chongqing Changan Automobile plans to issue new shares valued over half a billion US dollars according to the ShenZhen Stock Exchange. The capital raised will be for new capacity, factory upgrades, and research and development. Changan is China's leader in minivan production, a major component of the fast growing rural car market for public and private fleets. But Changan plans to debut an electric vehicle version of its Zhixiang sedan possibly this year. Today comes news that Korea's LG Chem will supply li-ion lithium batteries to Changan in a new deal....

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