GAC Motor, a Guangzhou-based automaker, plans to open manufacturing facilities in Russia and South America in a bid to increase its global presence, a senior manager with the company said.
The company, which owns the brand Trumpchi, has also outlined a plan to shipping more vehicles overseas, according to Yuan Xiaohua, vice-general manager of GAC Motor.
"Opening the manufacturing facilities in Russia and South America is based on our fast growth both at home and overseas in recent years," said Yuan.
According to Yuan, GAC Motor exported 500 vehicles in 2003. It plans to ship an estimated 3,000 units to overseas markets in 2014.
"By the end of 2020, we will invest 34 billion yuan [$5.5 billion] to build Trumpchi as a global brand," Yuan said.
The company, established in 2008, will also tap the European and United States markets after its foray into the Middle East, South America, Southeast Asia and countries neighboring China, Yuan said.
As of September, the company has sold more than 85,000 units on the domestic market, according to Yuan.
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