Beijing (ZXZC)- On August 16th, Great Wall Holdings inked a contract to build the headquarters and a perovskite base for UtmoLight, the automaker’s spin-off company, as well as a manufacturing base for HYCET Technology’s 3rd-generation semiconductors in Wuxi, Jiangsu Province. 

Photo credit: Great Wall Motor

The automaker signed an agreement with local authorities of Wuxi’s Xishan Economic & Technological Development Zone to pour 3 billion yuan ($442.2 million) in the UtmoLight project. The new headquarters and perovskite innovation industrial base will take up 156 mu of land (Chinese acres), housing the world’s first GW-grade perovskite photovoltaic module and BIPV production line. The production line of perovskite quantum dot will feature a production capacity of 100 tonnes per year. The automaker expects to see an annual production value of 2.5 billion yuan ($368.5 million) after the base become up and running.

On the other hand, Great Wall Motor is also constructing a closed packaging, testing, and manufacturing base for the third-generation semiconductor modules under HYCET Technology, another Great Wall Motor subsidiary focusing on powertrains.

The automaker plans to put in 800 million yuan ($117.9 million) into the production base, which will comply with the industrial 4.0 standard. The base will take up roughly 30 mu of land (Chinese acres), with a floor area of 28,000 square meters. With its projected annual production capacity of 1.2 million sets of auto-grade modules, the base is expected to bring the company an annual revenue of 1.5 billion yuan ($221.1 million) and a tax payment of 100 million yuan ($14.7 million).