Yang Rong planning green car investment
By Wang Xing, Tong Hao, Li Fangfang and Liu Che | China Daily | Updated: 2009-07-11 07:16
Yang Rong, the former Chinese automobile tycoon who fled the country after being accused of economic crimes, is preparing to launch an ambitious plan to make clean-tech cars in China.
The former chairman of Brilliance China Automotive Holdings plans to invest 40 to 45 billion yuan initially to set up a manufacturing base that can produce 3 million engines and 1 million vehicles, according to the Economic Observer.
The investment would focus on energy-saving cars with lower emissions and the first model would be launched in 2012, the newspaper said.
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