BEIJING, March 28 (Xinhua) -- Continental AG, the German tire and automotive components giant, put its 250 million euro (271.58 million U.S. dollars) expansion plan in Hefei, Anhui province, into operation on Tuesday.
Upon completion of the latest third phase, the Hefei plant would have seen a combined investment of 570 million euros. While its annual production capacity will be increased to 14 million tires in two years from the current 8 million, its employees will also double to more than 2,700.
As Continental's only factory in China, the Hefei plant, which mainly produces passenger and light-truck tires, is different from the company's other Asian plants in that it produces mainly for domestic market. (chinadaily.com.cn)
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