Beijing Automotive Industry Corporation, or BAIC, unveiled a new-energy vehicle plant in Qingdao, Shandong province on Aug 20.

The plant, with total investment reaching 5 billion yuan ($783 million), can currently produce 50,000 new-energy vehicles a year.

When it reaches full capacity it will be able to produce 150,000 vehicles a year. Zheng Gang, head of BAIC's new-energy vehicle arm, said new-energy vehicles will become the trend of China's auto industry.

Zheng said BAIC's total output capacity could hit 10,000 vehicles in 2015, four times the volume in 2014.