Shanghai (ZXZC)-On Nov. 29, Shaoxing Municipal Government and DearCC signed a strategic agreement on a vehicle production base project at Shaoxing Binhai New Area. Moreover, DearCC also relocated its headquarters from Beijing to Shaoxing, Zhejiang province. At the same time, the company also officially changed its name from Beijing DearCC Auto Technology to Zhejiang DearCC Auto Technology. 

According to Zhang Hailiang, Chairman of DearCC Auto Technology, DearCC's production base at Shaoxing Binhai New Area is expected to have an annual production capacity of 180,000 vehicles. With a total investment of RMB 5.5 billion (around $832 million), the new production base will cover four car manufacturing processes in an area of 1,000mu (around 666,666 square meters). DearCC will invest RMB 3.5 billion (around $529million) to construct the first phase of the project, which will cover an area of 500mu (around 333,333 square meters) and will deliver 60,000 and 90,000 model units annually. The project construction and production plan will start in 2018, and the new project will be put into batch production in the middle of 2019.

Zhang Hailiang summarized that there are three reasons to choose Shaoxing Binhai New Area as DearCC's new headquarters. Firstly, Shaoxing Binhai New Area gives the top priority to car investment. It not only abounds with a great many of talents, but also boasts highly efficient government departments, which is beneficial for the development of startups. Secondly, the convenient transportation of Shaoxing Binhai New Area will benefit the development of NEV manufacturing projects. Thirdly, Zhejiang has shaped a mature auto parts market, which is another reason that attracts DearCC to locate in Shaoxing. It is revealed that DearCC and CATL had reached an agreement about supplying stable and high-quality batteries, ensuring the successful NEV production for DearCC. 

Zhang Hailiang added that DearCC plans to produce one or two new models every year, aiming to cover 80% segment (from A0 to C-class). In Shaoxing base, DearCC will firstly produce the A+-class electric SUV with a wheelbase of over 2800mm, which will be designed by Porsche Cayenne's designer Dr.Ulrich Hackenberg, and will be showcased at Auto Beijing 2018.

In conclusion, With the joining up of a variety of experienced senior executives from other companies, such as Zhang Hailiang and Niu Shengfu, former senior executives of LeSEE Auto, DearCC started to be heard and known by the public. What's more, DearCC unveiled its first model at the Auto Guangzhou 2017, making the NEV startup to gain more public attention. The NEV production base project signed with Shaoxing Municipal Government would be DearCC's chance to go upscale.