Joint Venture Project in New Energy Vehicle Scheduled for Trial Production

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Category: Ningbo Business

Published: Tuesday, 27 August 2019 13:40

A joint venture project of new energy vehicle between Shanshan Group and Yanbian Guo Tai Co. Ltd is scheduled to produce and launch the first new energy car September as a steel structure workshop has been completed constructing, according to the Counterpartment Collaborative Work Leading Group Office in Yinzhou District.

With a total investment of 2 billion yuan and an area of 240,000 square meters, the project is the largest East-West collaborative industrial project in Jilin Province. The project helps to create more jobs for local people, promote the development of high and new technology, and deepen cooperation between auto components enterprises in Ningbo and Jilin.

Founded in February, 2018, Yanbian Guo Tai New Energy Vehicle Co., Ltd. Is a new energy car producer. The project started in July, 2018, and it was only one year and two months before it was put into production. It usually takes around two years, however, for projects of this large scale. The rapidity should be ascribed not only to the cooperation between Ningbo and Yanbian governments, which provide one package services covering project application, company registration, and activation of new licenses, but also to the orchestration of the construction contractors for project duration, so that the outdoor construction and facility testing could be finished before winter.

The project is designed to produce a total of 10,000 new energy vehicles annually, including 5000 new energy passenger cars and 5000 all-electric delivery vans. As such, the project could rake in 5.6 billion yuan per year. While earning profits, the project will create over 2000 jobs for local people, giving priority to qualified workers from economically-challenged families. It will also give priority to purchasing agricultural products from low-income villages and families to raise their income