Major projects to boost Lin-gang's new energy vehicle sector
Projects from the intelligent new energy vehicle sector sign agreements
to settle in the Lin-gang Special Area in Shanghai.
[Photo/WeChat account: shlgguanweihui]
A group signing ceremony for intelligent new energy vehicle industry projects in the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone was held on May 21 in the area, in East China's Shanghai city, local media reported.
At the ceremony, a total of 18 new energy vehicle projects from SAIC Motor, Yanfeng Automotive Trim Systems, Wanxiang Automobile, DSBJ and Magna officially signed agreements to move to Lin-gang.
The projects include finished automotive operations, auto chips, automatic driving systems, automotive trims, new materials, hydrogen fuel core automotive spare parts and precision machining ventures, among others.
The total investment of the projects reportedly tops 16 billion yuan ($2.49 billion).
The automobile industry in Lin-gang started in 2008. After more than 10 years of development, it now has more than 80 enterprises there, with an annual vehicle production capacity of 600,000 units and engine production capacity of 570,000 units.
In 2020, the output value of intelligent new energy vehicle enterprises in the area reached 75.8 billion yuan, with a year-on-year growth of 141.6 percent. In 2021, the industry is expected to become the first industry in the area to achieve an annual output value of over 100 billion yuan.
After the signing ceremony, a seminar on the industrial development of the sector was held. Company representatives exchanged views on the theme of "building an automobile industry ecosystem" in Lin-gang.