H-share Qingling Motors Co estimates it will invest 1.5 billion yuan (about HK$1.39 billion) over the next three years to double its annual production capacity to 100,000 vehicles, but sources of funding are not yet decided.
The Chinese light-duty truck maker said on Wednesday that it was studying ways to raise funds for further development.
Wu Jiqing , assistant to the general manager, said management had estimated it would cost the company between one billion and 1.5 billion yuan to increase its annual production capacity from the existing 50,000 vehicles to 100,000 in 1998.
The estimate had not allowed for spending on projects to increase localisation of components and parts.
Mr Wu did not expect the listed company to bear all of the cost, as its parent Chongqing General Auto Works and Japan's Isuzu, its minority shareholder, could cover part of the total investment.
The expansion plan would be finalised by year-end.