Date: 2013-07-31

Wanxiang Group Jiangsu Project has been officially put into operation and expected to produce millions of sets in 2014

The first phase of Wanxiang Jiangsu project with the annual production capacity of 10 million sets of automotive hub bearing units has been officially put into operation on March 28 in Jiangsu Taizhou Gaogang High-tech Industrial Park after more than nine months tension building, meanwhile the plant which covers an area of 70,000 square meters in the second phase of this project also has begun to establish.

Wanxiang has officially settled in Gaogang last July to complete the project with the annual production capacity of 10 million sets of automotive hub bearing units. The total investment of this project is 500 million yuan, the plant covers an area of 200 acres with the total building area of 87,800 square meters. It is reported that the annual production capacity could reach 2.5 million sets after the first phase has been fully completed, and it is estimated that the annual production capacity will achieve 10 million sets in 2014.

"Now the annual production capacity in Wanxiang is 10 million sets, the development objective for this Jiangsu project is to add another 10 million sets on the original basis, which means to build another Wanxiang." said Pan Wenbiao (general manager of Wanxiang) on the opening ceremony.

Zhou Jianqun, the vice president of Wanxiang also expressed in the welcoming speech, Wanxiang Jiangsu project is not only the key item among the national torch plan, but also one of the key investment & development items for Wanxiang Group, the board of directors in Wanxiang attached great importance to this new project and they will also give full support.

In addition, the local authorities should support the construction of this project with wholehearted enthusiasm and efforts so that to creat the best environment and the most excellent service for the enterprise, meanwhile to creat a dominating leading enterprise among other peers with Wanxiang.

In recent years, auto parts & accessories industry is one of the leading industries developed and focused in Gaogang district, and has a relatively good industrial base. The party secretary of Gaogang district Wang Jian believed that "the successful operation of Wanxiang Jiangsu project will make auto parts & accessories industry in Gaogang to a new realm and level."

The overall production capacity of automotive hub bearings in Wanxiang will reach 20 million sets in 2014 after the project had been fully completed, it is estimated that the domestic market share will accounts for 50% with the international market share of 10%, thus to become top five in the global.

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