After decades of success in North America, Jeep is planning to build factories in emerging markets and boost sales by at least a third in two years, CEO Mike Manley told The Wall Street Journal.

In a letter of intent signed by Fiat, Chrysler's majority owner, and a Russian bank in February, a new factory in St. Petersburg would have the capacity to build 120,000 Jeeps a year, Chrysler confirmed to MSN Autos. The company, in order to meet a global sales target of more than 800,000 by 2014, will introduce all-new versions of its Compass, Patriot and Liberty models based on Fiat platforms, spokesman Todd Goyer said. Another subcompact Jeep will also be sold.

"All will be offered in Trail Rated versions with class-leading Jeep 4x4 capability, with a focus on improved on-road dynamics and fuel efficiency," he said to MSN Autos.

In China, Fiat is readying to produce 140,000 Fiats and 220,000 engines per year starting in July, some of which could be allocated to Jeep models, the Journal said. Currently, import tariffs on Wranglers and Grand Cherokees in non-European countries border on insane: Try up to $22,000 above sticker in Russia and up to $37,000 in China.

Jeep sold 592,000 vehicles in all markets in 2011, a 41 percent increase versus 2010. The U.S., at 419,000 vehicles sold last year, remains Jeep's largest market.

[Source: Chrysler, WSJ]