YANCHENG, Jiangsu – Dongfeng-Yueda-Kia Automobile Co., Ltd. (DYK) will launch its 3rd production plant here soon, 163.com reported.
With a total investment of $814 million, this 3rd plant will be put into production in 2014 and own a planned annual output capacity of 730,000 vehicles, 200,000 engines, as well as a technology center.
A source said the 3rd plant will produce new energy vehicles and a joint venture independent brand Dianyue car, which will be developed based on the Cerato platform.
In addition, the K5 hybrid and the pure electric Forte may be made in this plant, both of which were exhibited at Auto China 2012.
DYK already has two production plants in Yancheng, and its total annual output capacity is expected to reach 1 million vehicles when the 3rd plant starts production.
For DYK, currently going through an intense period of launching models, the key bottleneck to further development is capacity constraint.
DYK sales in 2011 rose 30.3 percent to 433,000 vehicles in China, and it plans to sell 480,000 vehicles in 2012.
Moreover, DYK wants to become one of the top five automakers in China by the end of 2015, Su Nanyong, DYK’s general manager announced earlier.