SHANGHAI, Mar 27 (SMM) – Baoneng Group will invest 40 billion yuan in a new energy vehicle (NEV) production base in the Xixian New Area in Shaanxi province, SMM learned.
The base has a planned annual production capacity of 1 million units of NEVs.
Xixian is the fourth NEV base of Shenzhen-based Baoneng Group. The four bases, with an investment of 100 billion yuan, will have an annual production capacity of 2.3 million NEVs.
Baoneng Group also owns businesses in healthcare, property, finance and logistics.
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