China's Great Wall Motor has recently started construction of an auto parts industrial park, requiring a total investment of 16 billion Yuan (US$ 2.4 billion), in which the company plans to produce environmentally friendly high-end auto parts for its SUVs, sedans, pickups and other future models, media reported today.

The park covers an area of 4 million square metres and is expected to be up and running in 45 months.

Equipped with state-of-the-art manufacturing equipments, the park is estimated to achieve an annual output of about 60 billion Yuan after being put into operation.

With the most advanced equipment and the cutting-edge technology, the Chinese automaker aims to expand its production capacity in Baoding and Tianjin city to 1.5 million units in five years, and to lift the annual capacity to 2 million units by 2015.

If all goes as planned, Great Wall Motor will be able to attain a turnover of over 100 billion Yuan and profits of over 10 billion by then, with its annual sales recahing 1.8 million units, the company's executives said.