October 18, 2016 / 7:36 AM / a year ago

China approves Qiantu Auto project to build 50,000 green vehicles per year

BEIJING, Oct 18 (Reuters) - China’s National Development and Reform Commission gave approval to Qiantu Auto (Suzhou) for a factory with capacity to build 50,000 green energy cars per year, the state planner said in a statement posted on its website Tuesday.

Qiantu Auto, a subsidiary of Beijing-based vehicle engineering and design contractor CH-Auto, will invest 2 billion yuan ($300 million) in the project, the NDRC said. ($1 = 6.6685 Chinese yuan) (Reporting by Jake Spring; Editing by Edwina Gibbs)

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