Chinese auto maker Dongfeng Motor Group has announced that it will invest CNY3 billion over the next five years to fund its new-energy car strategy.
As an initial stage, the auto maker has mapped out plans for 16 energy-saving vehicles and new-energy vehicle projects.
The company says that it expects that its first purely electric vehicle will be rolled out within two years.
Dongfeng has said it aims to produce 100,000 hybrid vehicles and 50,000 purely electric vehicles a year by 2015.
Wuhan, Hubei-based Dongfeng Motor Group is China's largest publicly listed automobile manufacturer.