Beijing (ZXZC)- On May 17, Chinese new energy vehicle (NEV) maker Leapmotor held a signing ceremony in Huzhou, Zhejiang province, settling its NEV key components project in the city.

Photo credit: Leapmotor

The project, located in the Huzhou South Taihu Lake New Area, represents a total investment of approximately 1.35 billion yuan. It includes the construction of production lines for heat pump compressors, electronic water pumps, and onboard electronic power controllers, with an annual capacity of 6.8 million sets of key NEV components. Once operational, the project is expected to generate an annual output value of 4.3 billion yuan and annual tax revenue of 300 million yuan.

Photo credit: Leapmotor

The NEV and key components industry is one of the eight emerging industrial chains for Huzhou city, known for attracting leading enterprises, building industrial platforms, supporting industry funds, and promoting intelligent connected vehicle applications. Leapmotor, as a pioneer in China's NEV exports and the global NEV sector, achieved significant results. This agreement marks the beginning of a comprehensive strategic partnership, with both parties striving to bring more projects to Huzhou and integrate business segments into the area.

Leapmotor's founder, Chairman, and CEO Zhu Jiangming briefly introduced the company's development and future strategic plans. He emphasized leveraging the company's strengths, fostering upstream and downstream industry cooperation, and introducing more high-quality projects to support Huzhou's NEV and key components industry development.