Chinese car manufacturer Beijing Automotive Industry Corp (BAIC) is aiming high over the next five years.
BAIC-produced Foton Midi Image:BAIC |
The company used the Shanghai Auto Show and an associated conference to outline ambitious plans between now and 2015, including a target of ranking among the top 15 global car producers.
The company, which made a significant investment in purchasing part of the Scandinavian Saab brand in 2009, will use the designs and engine technology it acquired to launch new compact, mid-sized and larger sedan models - 11 in all on four different platforms.
The company has set a goal of joining other larger automotive firms in the Fortune 500 list of global corporations and is aiming to sell more than two million of its own-brand vehicles annually, including its recently launched Weiwang minivan, by 2015. Some 700,000 sales are predicted to come from passenger vehicles. Last year BAIC sold a total of 1.5 million vehicles including Mercedes and Hyundai models built at its factories.
Production will continue to come from the company's four main plants: Zhuzhou in Hunan Province, Chongqing, Guangzhou and at its headquarters in Beijing where medium and high-end sedans will be manufactured.