Hangzhou Bay New Zone hits 100 billion yuan in auto output

Chinese factory workers assemble Geely Emgrand EC7 cars on the assembly line at the Geely Auto Ningbo Hangzhou Bay Manufacturing Plant in Ningbo, East Chinas Zhejiang province, on 11 April 2011. [Photo/IC]

Ningbo's Hangzhou Bay New Zone saw a great boom in its auto industry last year, with an annual output of 100.16 billion yuan ($14.75 billion) achieved, up 13 percent year on year, according to local authorities. 

It is the first industry in the zone that has hit 100 billion yuan in output, taking up 40 percent of the city's total auto output and 20 percent of the province's total.

Starting from April 11, 2011 when the Geely Auto Ningbo Hangzhou Bay Manufacturing Plant was established, the zone's auto industry has undergone remarkable progress over the past eight years and is currently the pillar industry of the area. 

With two vehicle manufacturers and over 150 parts suppliers producing four auto brands including Lynk & Co, Geely, Volkwagen and Skoda, the zone has developed a whole auto industrial chain integrating R&D, manufacturing, testing and auto talent cultivation, and has become a core drive for the city to build a world-class auto industry cluster.

According to the local auto development plan, 50 billion yuan will be devoted in the next eight years to build the zone into a global manufacturing center for new energy vehicles and intelligent connected vehicles, a global R&D center for advanced auto technologies and a gathering center for world-renowned auto brands. 

Specifically, the zone aims to develop 10 global vehicle brands and 10 world-famous parts brands, and attract 40 of the world's top 100 parts manufacturers by 2025, to realize a vehicle manufacturing capacity of 2 million units and an annual auto output of 400 billion yuan.