Shanghai (Gasgoo)- Changan plans to add RMB 250 million investment in its wholly-owned subsidiary, Changan Russia to meet the subsidiary's liabilities and supplement its operating funds, according to Changan's statement released on May 7. Due to the deficiency of Changan Russia's cash flow, Changan aims to solve the fund shortage, which is resulted from the expansion of business, via the added investments. As planned, Changan Russia is slated to be a pioneer to march into the Commonwealth of Independent States (CIS) countries and Eastern European markets.
Changan has been striving to expand its overseas presence. For a long time, Changan is investing heavily in technology R&D with its 5% annual revenue, which is far more than its global peers. Thanks to more than ten-year development, Changan had established a global R&D network, which covers Chongqing, Beijing, Hebei Province, Anhui Province in China, as well as foreign cities, including Italian Turin, Japanese Yokohama, British Birmingham, and American Detroit and Silicon Valley.
It is said that Changan has a total of 11,000 R&D staff members from 17 countries worldwide, including nearly 500 senior experts, 14 national distinguished experts of Thousand Talents Program, and more than 7,000 foreign R&D employees. The excellent groups worldwide enable Changan to lead the pack in automobile R&D sector in China for eight consecutive years.
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