Joint auto venture to double in size

Chongqing Changan Auto plans to double capacity at its venture with Japan's Suzuki Motor Corp by investing up to US$366 million in a new factory, state media reported. The new plant would have a capacity of 200,000 units annually, the same as the venture's existing factory. Chongqing Changan, also Ford's main Chinese partner, holds a 51% stake in the joint venture with Suzuki, which mainly makes compact cars such as the Alto. The company expects to unveil two self-designed cars next year as part of ongoing efforts to develop its own research capabilities and move away from relying on foreign partners for car production.