China's leading automotive joint venture Dongfeng Motor Co., Ltd. (DFL) released its new "mid-term business plan" 2011-2015 here on July 26th, 2011, a media source reported.

According to the plan, DFL will invest ¥50 billion (US$ 7.5 billion) over the next five years to expand its sales from 1 million to 2.3 million units.

The Shiyan manufacturing plant, constructed by Dongfeng Commercial Vehicle (DFCV), will mainly produce high-end trucks and will be put into operation in September 2011.

The first-stage construction is designed for an annual output capacity of 40,000 units. And by the end of this year, the new truck assembly line will have a production capacity of 10,000 units.

According to Yan Zongyun, director of planning department under DFCV, the facility will be able to churn out 80,000 units per year by 2013. On June 18th, 2011, the Shiyan-based plant rolled off its first heavy-duty truck Dongfeng Kinland (Tianlong).

In addition, Dongfeng Liuzhou Motor Co (DFLZ), a subsidiary of DFL, formed a new manufacturing base earlier on February 16th, 2011 in Liuzhou, Guangxi Province.

Backed by an investment of ¥1.68 billion, it will have an annual production capacity of 100,000 commercial vehicles after the first-stage construction by the end of 2012. In 2010, DFL sold 1.275 million units, increasing around 30 percent on year.