GSK Group (Wuhan), a Taiwan-funded corporation that produces car seats, door panels and other components for auto makers, will continue to increase its investment in Wuhan Economic & Technological Development Zone (WHDZ), according to local media reports.
The company has built a growth momentum and has enjoyed a stable increase in output value on a yearly basis. This was true even when the company took a hit during the COVID-19 outbreak.
Huang Yanxing, vice manager of GSK Group, said that auto makers have scaled up the production of e-vehicles, which will offer the company a new growth opportunity. An annual production goal has been established: 1 million sets of car components, rising from 840,000 sets in 2020.
"We will acquire more advanced technology, more convenient trade channels and stronger financial support," Huang added, referring to a new automatic production line that will soon be in place.
GSK Group is not alone. Liu Chunfang, a director of Tingyi (Cayman Islands) Holding Corporation (Central China) also plans to expand its investment in WHDZ.
"The company has made a 60 million yuan ($9 million) investment in smart manufacturing and workplace environment improvements," she said. "The company in the future will seek to accomplish sustainable development and long-term benefits."
