TOKYO -- Wanxiang Group is putting the auto business on notice: It intends to become a force capable of rivaling Western and Japanese manufacturers of green cars and components.
China's largest autoparts supplier plans to spend 200 billion yuan ($30 billion) over the next 10 years on facilities for developing and producing electric and other light-on the-planet vehicles, along with parts for them. The company intends to capitalize on the technologies of U.S. businesses it has acquired; it expects increased production volumes to bring down costs.
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