A signing ceremony of Lotech's lightweight new energy vehicle parts manufacturing project was held in Zhangjiagang on April 21.
Founded in 2000 in South Korea, Lotech is deeply engaged in the field of automotive precision components, specializing in the research and production of core parts for new energy vehicles. The company boasts a mature technology system, quality standards, and global supply chain capabilities.
The project, with a total investment of $100 million, aims to produce 1.5 million sets of core components annually, including stabilizer bars, shock absorbers, and motor shafts. Upon reaching full production, the project is expected to generate an annual output value of around 850 million yuan ($124.52 million).
Zhangjiagang has attracted and gathered over 120 high-quality Korean enterprises, making it an emerging hotspot for Korean business investment in the Yangtze River Delta region.