Jiangling Motors to begin N800 Project

Jiangling Motors Co., Ltd., a Chinese partner of Ford Motor Company in China, wins the go-ahead from its board of directors to kick off N800 Project, which is a plant of a new light commercial vehicle.

Involving total investment of 725 million yuan, the project is estimated to be able to produce 80,000 N800 cars per year, after a three-year construction. Most of the investment will be spent in workholdings and equipment purchase, engineering development, and parts and component development.

Notably, N80 is a car that will be independently developed by the Chinese carmaker. The company's board approved a proposal this April to put aside 118 million yuan as starting fund and initial research and development cost, and agreed the company to spend no more than 160 million yuan buying a plot of land about 133.3 hectares large in Xiaolan Economic Development Zone in Nanchang, headquarters of Jiangling Motors.