On March 2, a research, development and production plant focusing on new energy vehicle parts settled in Taizhou Port Economic Development Zone – located in Taizhou Medical High Tech Zone in Taizhou city, East China's Jiangsu province.
The project, operated by Suzhou Recodeal International System Co Ltd, mainly focuses on the production of high-performance battery cover plate parts for new energy vehicles, costing 1 billion yuan ($144.88 million) for the first phase of development.
Suzhou Recodeal International System Co Ltd is a high-tech enterprise that specializes in connection systems. [Photo/WeChat account: gh_1ff53eb21f0a]
When the two-phase project is put into operation, annual sales revenue is expected to hit 10 billion yuan.
The establishment of the project will provide important support for Taizhou to build a new energy vehicles and parts industrial cluster, said Ding Zhiqiang, deputy secretary of the Party Working Committee and director of the Management Committee of Taizhou Medical High Tech Zone.
Suzhou Recodeal International System Co Ltd specializes in connection systems and serves as a supplier for Tesla, Nio, Contemporary Amperex Technology Co Ltd and other leading new energy vehicle enterprises.
The company will ramp up its investment in data communication, automotive electronics and other key areas, and will continue to enrich and expand new application scenarios to boost the industrial upgrading of Taizhou, said company director Wu Shijun.