(Yicai Global) Nov. 28 -- New-energy vehicle maker Dongxu Optoelectronic Technology Co. [SHE:000413] said yesterday that it will invest USD454 million (CNY3 billion) to construct an NEV production base in Mianyang in Sichuan.

Dongxu Optoelectronic said that it has signed a cooperation agreement with the Mianyang government and plans to build a production facility backed by its own funds or fundraising. Construction is expected to start next year, and its first phase will last 18 months. Once completed, the hub will manufacture 10,000 passenger NEVs and 30,000 logistics NEVs per year.

The company said that building this base will contribute to its NEV productivity and industrial plans.