Luxshare Precision and Suzhou Xiangcheng Zone Ink Deal to Build China's Largest Automotive Component Manufacturing Base

Published: Nov 10, 2024 23:51

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At the "1030" Automotive Industry Salon held recently in Suzhou, Luxshare Precision and the Xiangcheng Economic and Technological Development Zone in Suzhou reached a cooperation agreement to jointly construct a project for acoustic electronic products and automotive components, aiming to establish the largest Luxshare automotive component manufacturing base in China. The total investment in this project exceeds RMB 12 billion, with an annual output value expected to surpass RMB 30 billion upon completion.

Li Zhongjun, member of the Party Leading Group of the Jiangsu Provincial Government, pointed out at the meeting that Jiangsu is an important automotive industry base and is focusing on nurturing a new-energy vehicle (NEV) industrial cluster as one of the 16 key advanced manufacturing clusters. The province is committed to enhancing the resilience and security of the industrial chain and supply chain, driving the automotive industry towards high-quality development. Suzhou, on the other hand, regards NEVs as the top priority in its "1030" industrial system development, fully accelerating the transformation and upgrading of the automotive industry, striving to become an internationally advanced and domestically leading hub for the NEV industry.

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