Shanghai (ZXZC)- Knorr-Bremse DETC Commercial Vehicle Braking Technology Co.,Ltd. (called “Knorr-Bremse DETC” for short), a joint venture between Germany's Knorr-Bremse Group and China's Dongfeng Electronic Technology Co.,Ltd (DETC), celebrated on August 18 the first spade cut for a new factory in Shiyan, Hubei province, where Dongfeng Motor's auto parts industrial park is located.

(Dongfeng Motor Company Limited)

Covering a planned area of 75 mu (50,000 square meters) and involving a total investment of 300 million yuan ($43,343,820), the new factory is expected to start operation in Feburary 2021. Upon completion of the construction, the factory is forecasted to yield production value of 1.2 billion yuan ($173,375,280) and pay 56.7 million yuan ($8,191,982) of tax annually.

According to Dongfeng Motor, the new Shiyan-based factory will focus on manufacturing transmission system, air supply system, vehicle control system, wheel end system and steering system in later development phase, with the aim of becoming an intelligent plant dedicated to the R&D, manufacturing and application of CV-used advanced driver assistance systems.

Founded on 2014, Knorr-Bremse DETC, is held as to 51% by Knorr-Bremse, a German manufacturer of braking systems for rail and commercial vehicles, and 49% by DETC, a majority-owned subsidiary of Dongfeng Motor Parts and Components Group Co.,Ltd. The joint venture primarily works on designing, manufacturing and selling CV braking system and has basically fulfilled the deployment for systematization and intelligence businesses of CV-used braking and intelligent driving system.

Chen Xinglin, general manager of Dongfeng Motor Parts and Components Group, said the new factory to be launched in Shiyan is expected to be another representative project of “international benchmark factory” for the group.