06-03-2007

Chery Automobile Co Ltd is expected to spend 260 million yuan to retool a commercial vehicle maker it bought last year in a bid to speed development in the profitable sector.

The nation's fourth-biggest car maker is attempting to streamline operations at the Wuhu FAW Yangzi Automobile Manufacturing Co Ltd, which it acquired in July, Jin Yibo, vice director at Chery Automobile Sales Co Ltd, said last week.

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