Shanghai (Gasgoo)- On April 8, Fuyao Glass Industry Group Co., Ltd. ("Fuyao Group") held a ceremony to celebrate the ground-breaking of its full-chain production base in Hefei city, according to a post on "Anhui Fabu", the official WeChat account of Anhui provincial government.
The project is set to involve a total investment of 5.75 billion yuan, with an annual production capacity of 4 million sets of automotive glass and 4 million pieces of replacement glass, totaling an annual output value of about 6 billion yuan.
Fuyao Group formerly disclosed the project in an announcement on January 25th. According to the its development needs and strategic planning, the company plans to establish three wholly-owned subsidiaries in Hefei, Anhui Province -- Fuyao Glass (Hefei) Co., Ltd., Fuyao Glass (Hefei) Replacements Co., Ltd., and Hefei Fuyao Float Glass Co., Ltd. (provisional names), with a total investment of 5.75 billion yuan.
It is reported that the aforementioned investment of 5.75 billion yuan will be poured into the construction of an automotive safety glass project (for the OEM market), an automotive accessory glass project (for the ARG market), and a high-quality float glass project. Equipped with advanced modern production equipment, this initiative is expected to achieve an annual production scale of approximately 26.1 million square meters of automotive safety glass and two high-quality float glass production lines.
As a large multinational corporation focusing on the R&D and manufacturing of automotive safety glass, Fuyao Group provides comprehensive solutions for numerous renowned automotive companies worldwide. As a leading enterprise in automotive glass, the company holds a domestic market share of over 60% and over 30% share in the global automotive glass market. In 2022, the group produced 131.04 million square meters of automotive glass, representing a year-on-year increase of 7.01%. The capacity to be added by the Hefei project accounts for approximately 20% of the company's total annual capacity last year.
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