Shanghai (ZXZC)- On October 23, SAIC Motor held a groundbreaking ceremony for its new energy vehicle (NEV) battery factory in Zhengzhou city, capital of China's Henan province, marking a significant milestone in the expansion of its presence in the field of NEVs.

Photo credit: SAIC Motor

Just three months ago, in July, the SAIC Motor initiated the NEV battery project in the Economic and Technological Development Zone of Zhengzhou city. This project has already progressed into the construction phase. With a total investment of 2 billion yuan, the project aims to establish an annual production capacity for 300,000 sets of power batteries. Once operational, it is expected to generate a yearly output value exceeding 10 billion yuan.

The initiation of the Zhengzhou NEV battery factory aligns seamlessly with SAIC Motor's "Three-Year Action Plan for New Energy Vehicle Development," said the automobile group.

SAIC Motor has strategically positioned itself in Zhengzhou, establishing a wide range of projects throughout the entire industry chain, including global cloud computing data center, software development center, engine manufacturing plant, component cluster, supply chain logistics, mobility services, financial and leasing services, NEV charging stations, and NEV-related recycling industries.

The Zhengzhou base represents SAIC Motor's third vehicle production site, following those in Lingang of Shanghai city and Nanjing of Jiangsu province. At the site, the first and second phases of vehicle production plant, the SAIC Motor Cloud Computing (Zhengzhou) Data Center Project, as well as the first and second phases of engine production facilities have been initiated and are rapidly advancing. Since commencing operations in September 2017, the Zhengzhou base has produced and sold over 1.5 million vehicles, generating a cumulative value of over 100 billion yuan. It has been responsible for the production of such models as the Roewe iMAX8 EV, the Roewe D7, and the MG7.