Twenty-eight projects with a combined investment value of about 40.98 billion yuan ($6.3 billion) begin construction in Jinyi New District, Jinhua, East China's Zhejiang province, on Sept 20. [Photo/zj.zjol.com.cn]
Twenty-eight projects with a combined investment value of about 40.98 billion yuan began construction in Jinyi New District, Jinhua, East China's Zhejiang province, on Sept 20, according to local media reports.
The projects are primarily related to fields including high-end equipment manufacturing, urban infrastructure and public services.
Among these projects is a new energy vehicle factory backed by investments from NWTN.
According to NWTN founder and CEO Alan Wu, the 10-billion-yuan project covers an area of 750 mu (50 hectares) and will be capable of producing 100,000 "Smart Passenger Vehicle" (SPVs) every year.
Scheduled to become operational in 2024, the factory is expected to become the world's leading smart factory for a new generation of high-end new energy passenger cars.
