 The Chrysler 300C will soon be produced in China for local drivers |
DaimlerChrysler, the world's fifth-largest carmaker, is increasing its investment in North East Asia as it looks to catch up with rivals. The company said that it had earmarked an extra 300m euros (�203m; $367m) for North East Asia, taking its total spend for the region to 1.5bn euros.
As part of its plans, DaimlerChrysler will start to make the Chrysler 300 sedan in Beijing from the end of 2006.
China's car market is expected to become one of the world's biggest.
Brand roll-out
The announcements came at the end of a visit to China by the chief executive of the Chrysler Group, Tom LaSorda.
European and US carmakers have been looking to boost sales in China, as well as increase production in what is a cheap labour market.
DaimlerChrysler also announced plans to make Chrysler minivans in China and Taiwan, with production due to start at the start of 2007.
It also has applied to set up a Chinese financing company that would provide loans for consumers looking to buy new cars.
DaimlerChrysler has decided to increase its focus on the Chinese market after lagging behind rivals including Ford and General Motors.
In the future, the German-American company plans to produce Mercedes cars at a new Chinese factory with its local partner Beijing Automotive Industry Corp.
One-Minute World News 
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