Shanghai (ZXZC)-JMC revealed on Nov. 14 that they will build a new plant in Nanchang Xiaolan Economic and Technological Development Zone, Jiangxi Province to enlarge their production capacity.

The new plant will be constructed in two phases. During the first phase, JMC will invest RMB 3.377 billion in the construction of plant, press line, welding assembling line, coating line, final assembly line and related public facilities. After completing the first phase, the new plant will have an annual production capacity of 150,000-unit NEVs and petrol-powered vehicles, and will be put into production around the first half of 2020.

On the basis of the first phase, the second phase will invest in the manufacturing equipment and installation and the related public power equipment and installation. Considering the development of market demands and JMC's production capacity, the project aims to manufacture SUV products. Once completed, the total target annual production capacity of the two phases will reach 300,000-unit NEVs and petrol-powered vehicles.

The new project is expected to make profits for the automaker. When it is finished and put into production, it is estimated that the annual sales revenue would reach RMB 19.358 billion and the annual profit would be RMB 970.82 million. What's more, its added-value taxes and sales taxes would rise to RMB17.3995 billion.