CHONGQING -- Chongqing Jinguan Automobile Manufacture Co Ltd (Jinguan), a leading Chinese special vehicles manufacturer, signed an agreement with Germany's Hymer Group on Thursday to launch China's first recreational vehicle (RV) joint venture.

Jinguan and Hymer Group, one of Europe's largest manufacturers of RVs and caravans, will jointly invest 500 million yuan ($81.2 million) in building a factory with an annual production capacity of over 5,000 vehicles, said Sun Lu, president of Jinguan.

The factory will be based in Southwest China's Chongqing municipality.

The two companies displayed three RVs imported from Germany at the China Chongqing International Auto Industry Fair, which ended on Thursday. The vehicles were each equipped with a toilet, a kitchenette, a bedroom, a shower room, a bar counter, a 32-inch TV and a WiFi terminal.