Yang Rong, the former Chinese automobile tycoon who fled the country after being accused of economic crimes, is preparing to launch an ambitious plan to make clean-tech cars in China.

The former chairman of Brilliance China Automotive Holdings plans to invest 40 to 45 billion yuan initially to set up a manufacturing base that can produce 3 million engines and 1 million vehicles, according to the Economic Observer.

The investment would focus on energy-saving cars with lower emissions and the first model would be launched in 2012, the newspaper said.