Wuhan economic development zone renews goals for 2024

Huawei and VOYAH sign a strategic cooperation contract in the Wuhan Economic & Technological Development Zone (WEDZ), Wuhan, Central China's Hubei province, on Jan 22. [Photo provided to en.whkfq.gov.cn]

As a powerhouse in Hubei's industrial economy, the Wuhan Economic & Technological Development Zone (WEDZ) has seen a U-shaped trend in economic development over the last year, due to the tremendous changes caused by the declining sales of traditional fuel vehicles and the emergence of new energy vehicles (NEVs).

The latest data indicates that in 2023, the industrial added value of WEDZ is expected to grow by around 6.6 percent, leading among the three major development zones in the city. The zone's total output value of industries above a designated size has exceeded 360 billion yuan ($50.15 billion), accounting for nearly a quarter of the city's total.

On Jan 22, VOYAH and Huawei signed a strategic cooperation agreement to jointly create the ultimate intelligent travel experience based on user needs. This venture is set to accelerate the large-scale commercialization of intelligent technologies.

Also this month, Dongfeng announced the release of its first luxury electric off-road model, the M-Hero 917. This model has secured domestic production orders worth 200 million yuan. At the same time, the brand has also worked with CATL. Over the next three years, CATL's battery technology will be used in M-Hero's vehicle models.

Since August last year, several action plans have been launched in WEDZ, targeting the three major technological directions: pure electric cars, hybrid cars, and hydrogen energy cars.

Unmanned taxis operate at an airport in Wuhan, Central China's Hubei province. [Photo provided to en.whkfq.gov.cn]

Over the last year, the Intelligent Connected and Electric Vehicle Industrial Park attracted four major NEV projects such as Lotus, Boreton, and Skywell, as well as over 500 enterprises. In 2023, the total industrial output value of the park exceeded 53 billion yuan, doubling from the previous year, and this year it is set to reach 140 billion yuan.

In 2024, the zone will strive to bring in another new energy vehicle manufacturer and churn out over 400,000 NEVs.