(Reuters) - Chinese automakers so far have announced plans to invest more than $20 billion (14.48 billion pounds) in new electric and hybrid vehicles.. Among them:
Changan Automobile Co : The Chongqing-based automaker has proposed a $15 billion plan to launch 21 new pure electric vehicles and 12 plug-in hybrids by 2025 while phasing out production of its gasoline-engine models. Changan is partnered in China with Ford Motor Co, French automaker PSA Peugeot Citroen and Japanese automakers Suzuki Motor Corp and Mazda Motor Corp.
SAIC Motor : Shanghai-based SAIC, which is partnered with Volkswagen AG (VOWG_p.DE) and General Motors Co, said it plans to invest at least $3 billion on so-called new energy vehicles, including electric and hybrid models.
Great Wall Motor : The independent carmaker, which is based in Baoding, plans to spend at least $1.8 billion and as much as $8 billion over the next 10 years on similar models, and has been discussing a possible joint venture with Germany’s BMW AG to build battery-powered Mini compacts in China.
Reporting by Paul Lienert in Detroit; Editing by Matthew Lewis