Chinese Automaker to Build Electric Vehicle Plant in S. Korea

Write : 2016-03-13 17:36:07 Update : 2016-03-13 18:59:26

Chinese Automaker to Build Electric Vehicle Plant in S. Korea

A Chinese carmaker Jiu Long is moving to build an electric vehicle plant in the South Korean city of Gwangju in South Jeolla Province.
 
The city government said on Sunday that it will sign a memorandum of understanding to that effect with the automaker on March 23.
 
Under the agreement, the automaker will build a plant to manufacture electric vehicles in the city, which will provide administrative support for the construction.
 
Discussion on the scope of the investment is under way, but the Chinese carmaker is expected to invest about 250 billion won to build a factory until 2020 with a production capacity of 50-thousand cars a year.
 
The Chinese carmaker based in Yangzhou, Jiangsu Province has reportedly pursued to invest in South Korea for years as part of efforts to upgrade its products.

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