In addition to making its own-brand cars and light buses, Southeast assembles Mitsubishi's Lancer and Galant cars as well as Chrysler's Dodge Caravan under licensing agreements.

Last year, Southeast's vehicle sales topped 120,000 units, according to the company, although it did not provide separate sales figures for its own-brand vehicles, Mitsubishi or Dodge.

Later this year, Southeast plans to launch its first minivan, which will be fitted with a l.3-liter Mitsubishi 4G13 engine.

The company also will start expanding its annual production capacity from 120,000 units to 300,000 units. The company will spend 2 billion yuan ($303 million) to expand capacity.

Established in 1995 in Fuzhou, the capital of the east China province of Fujian, Southeast is a 50:50 joint venture between Taiwanese automaker Yulon Motor Co. and mainland China's Fujian Motor Group.