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SHANGHAI/HONG KONG, July 28: The state parent of Dongfeng Motor Group Co., China's third-biggest automaker, has set up a passenger vehicle subsidiary, paving the way for more aggressive development of the company’s own-brand cars.
Dongfeng, which makes cars in tie-ups with Nissan Motor, Honda Motor and PSA Peugeot Citroen, unveiled its first self-developed sporty car late last year, and is awaiting regulatory approval to start mass production.
It did not say how much it would spend to develop and make more cars under its badge in a statement issued this week.—Reuters
