Shanghai (ZXZC)- Jiading district, Shanghai city will see an automotive metaverse industrial base built with a long-run industrial scale expected to surpass 100 billion yuan ($14.51 billion).

According to a post on "Shanghai Jiading", the official WeChat account of Jiading district's government, Shanghai Jiayuan Xinchuang Virtual Reality Technology Group Co., Ltd. ("Jiayuan Xinchuang") will be settled in Anting town, Jiading district, as one of the key projects local authorities agreed at a recent signing ceremony. The company will work on building an automotive metaverse industrial base with a total of 500 million yuan ($72.552 million) to be invested.

Design image of the automotive metaverse industrial base; photo credit: "Shanghai Jiading" WeChat account

Covering an area of 47 mu (around 31,300 square meters), the aforesaid project is currently in its first-phase renovation stage and is expected for trial operation in May this year. 

According to the corporate information inquiry platform Tianyancha, Jiayuan Xinchuang was incorporated on Dec. 5, 2022 with a registered capital of 10 million yuan ($1.451 million).

The company revealed this project will utilize the world's leading virtual engine and AI technologies, and introduce multiple companies focusing on metaverse-related businesses, such as R&D of automobile metaverse technologies, virtual filmmaking, digital media, super computing power, sign language cloud, etc., by leveraging Anting town's local advantage in the automotive industry.

In addition, the aforementioned project will also integrate such technologies as the computing medium SaaS (Software as a Service) platform, the 5G-enabled virtual space, as well as the third-dimension animation pipeline to realize the applications of metaverse computing in the auto-related manufacturing processes like product simulation design, product testing & validation, remote facility maintenance, etc.