SAIC Motor Corp will invest 8 billion yuan (US$1.1 billion) in Nanjing Automobile Group Corp, China Securities Journal reported, without saying where it got the information from.

The plans include spending about 450 million yuan boosting MG Car production capacity, the report said. SAIC Motor, China's largest auto maker, agreed to buy assets from Nanjing Auto for 2.1 billion yuan in December.