On 2 december 2013, the chai reno project was officially approved by the commission. On 16 december 2013, the joint venture contract with reno was formally signed and approved by the ministry of commerce on 26 january 2014. On march 3, 2014, the company was granted a new operating licence with an additional 4 billion yuan. In terms of capacity-building, the company is working on a rolling pattern of one-time planning and phased construction. A selection of smarts totalling about rmb 7. 76 billion, the factory is located at the golden ports industrial park in the wuhan economic technology development zone, and will be accompanied by the construction of supplier parks for the production and distribution of spare parts by suppliers in close proximity, thereby improving supply chain efficiency, reducing logistics costs and boosting neighbouring industries. Once completed, the company will have the capacity to produce 150,000 total vehicles per year, including flushing, welding, coating,...