WUHAN, Oct. 31 (Xinhua) -- Sino-French joint venture Dongfeng Renault Automotive Company (DRAC) said on Tuesday that it aims to sell 400,000 vehicles per year by 2022.
The company expects to expand its sales network to 400 dealers and localize nine models, focusing on SUVs and electric cars.
"We recognize China as the world's largest auto market and as a global trendsetter, and that is why we have made it a strategic priority for growth in Groupe Renault's new mid-term plan 'Drive the Future,'" said Carlos Ghosn, Chairman and Chief Executive Officer of Groupe Renault.
He also said that "together with Dongfeng Group, we have the resources, scale and technologies to support DRAC's sustainable growth in the Chinese market."
The company started production in early 2016. It has sold over 60,000 vehicles so far this year.