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Auto Valley leader works to attract investment

en.whkfq.gov.cn | Updated: 2022-05-12

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Tang Chao encourages international auto makers to invest in WHDZ. [Photo provided to en.whkfq.gov.cn]

Tang Chao, director of the Wuhan Economic & Technological Development Zone (WHDZ), delivered a keynote speech at a provincial new energy vehicle (NEV) and intelligent connected vehicle (ICV) industrial development matchmaking event that kicked off on May 11, encouraging ambitious global automobile manufacturers to pursue their career goals in the zone and make new technological progress in frontiers such as hydrogen fuel cell vehicles, aero cars and autonomous driving.

As one of the first national development zone established in the Central and West China, WHDZ boasts the most intensive automobile industry layout in China and has attracted celebrated whole-car manufacturers and auto component suppliers from countries like the United States, the United Kingdom, France, Germany and Japan.

The zone has also established several pilot zones designated by the central government in the coordination between ICVs and smart cities, and boasts the best intelligent connected application scenarios in China.

Since 2021, while working to transform its traditional auto sectors, the zone has doubled down on efforts to attract companies involved in the new frontier of the industry – NEVs – and has brought in four NEV whole-car workshops invested in by VOYAH, Xpeng, Dongfeng Honda and Dongfeng Motor.

In the next two to three years, NEV production capacity is expected to account for more than 50 percent of the zone's total and create a nearly 100-billion-yuan ($14.88 billion) supporting market consisting of sales of automobile batteries, engines, power control systems, chassis parts and sensors.

Authorities are currently setting up an independent and stable automobile industrial chain to counter the uncertainties and supply disruptions caused by the COVID-19 pandemic. Innovative enterprises in the zone have all received considerable financial assistance, and special auto industrial funds established by the local government have registered 13.8 billion yuan in direct investments in nearly 20 related projects so far.

Meanwhile, increasingly abundant resources in healthcare, education and sports have not only made WHDZ a huge industrial cluster, but also an ideal place to work and live in.