The signing ceremony for a major manufacturing plant for molding materials, glass fiber parts and metal products for new energy vehicles or NEVs, to be located in the Taixing High-tech Zone, Taixing city, East China's Jiangsu province, took place on Nov 7.
The project is being funded by Adler Pelzer Group, a worldwide leader in automotive acoustics. The group is headquartered in Hagen city, Germany, with its core business being the production of auto industry supply chain components.
Group CEO Pietro Lardini said that the Taixing zone boasted obvious supporting advantages for the automotive parts sector and his company had confidence in turning the new plant into an important production center covering the entire Yangtze River Delta region.
The first phase of the plant, which will cost $60 million, is projected to manufacture 600,000 components and generate annual sales of 1 billion yuan ($138.36 million). It will supply mainstream auto manufacturers in the YRD and is expected to help create an industrial agglomeration effect.
The signing ceremony came after more than two years of negotiations and consultations, and the project is seen as being a breakthrough in the field of overseas investment promotions for the Taixing zone.
The signing ceremony for the manufacturing plant for NEV molding materials, glass fiber parts and metal products takes place. [Photo/WeChat account:txfabu]
A delegation from Adler Pelzer Group visits the Taixing High-tech Zone. [Photo/WeChat account:txfabu]