Wuxi Gissing Group signed a collaboration agreement on July 16 to ramp up investment and expand production capacity in the Wuhan Economic & Technological Development Zone (WEDZ).
The facility, with an investment of 600 million yuan ($83.58 million), is set to establish an intelligent factory aimed at bolstering the company's service capabilities across central and southwestern China, fostering sustained business growth. It is expected to yield an annual output value exceeding 1 billion yuan upon completion in 2026.
Liu Ziqing, Party secretary of WEDZ, emphasized the zone's strategic focus on advancing the automotive parts sector in tandem with complete vehicles, propelling the growth of core automotive parts industries and refining the supportive ecosystem.
He added that authorities will implement measures to ensure the project's advancement, aiding the company in strengthening its market position and fostering growth.
Liu Yi, president of Gissing Group, shared insights into the company's operational framework, highlighting plans to expedite the consolidation of top-tier resources along the automotive parts industrial chain, attracting leading industry talents to establish a presence within the zone.
Gissing Group, which has been engaged in the automotive parts industry for over 30 years, boasts cutting-edge intelligent manufacturing capabilities and expertise in technological research and development. The company commands a significant market share of 25 percent in roof products and 40 percent in interior products.
The group established a presence in WEDZ in 2009, focusing on research and development, as well as the manufacturing of products including automotive roof systems, interior components, and luggage management systems. It provides supplies to renowned automotive giants such as Dongfeng, BYD, and FAW.
