BAIC Jiaqing (Chongqing) New-Energy Vehicle Technology Company, an entity co-built by BAIC Yinxiang Automobile Co., Ltd. and three private companies, is building a new facility at Fuling New District, Chongqing, according to reports. 

Estimated to cost three billion yuan (434.6 million US dollars) and cover an area of 1,098 mu (73 hectares), the new plant features a designed annual production capacity of 300,000 new-energy vehicles. 

The phase I project will be completed in two years, and will be able to produce 100,000 vehicles a year.

When the plant enters full-fledged production, it will create 3,000 jobs and yield an annual output value of 26 billion yuan (3.8 billion US dollars).

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