China Dongfeng to invest $1 bln in own-brand cars-paper

Newswire

SHANGHAI/HONG KONG, July 28 (Reuters) - 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 ...

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