(Yicai Global) Sept. 4 -- Nanjing Yueboo will invest CNY1 billion (USD146 million) to build the second phase of its new energy vehicle powertrain plant in Nanjing.
Yueboo plans to sign an agreement with Pukou Economic Development Zone in Nanjing, capital of Jiangsu province to research and develop and industrialize new energy vehicle and passenger vehicle powertrains, driving motors and controls, vehicle control units and intelligent pilot systems.
The project in the south of Yueboo's new energy vehicle powertrain research and development and unit production is projected to occupy 174 mu (about 28.66 acres) with groundbreaking set for before the end of next year and a completion and subsequent operating date prior to the close of 2022, the announcement stated.
The project will help Yueboo position itself rationally in pure electric passenger vehicle powertrain R&D and industrialization, improve product quality and enhance its comprehensive competitiveness, per the announcement.
Editor: Ben Armour