The automobile manufacturing industry in Ningbo has been making stable progress in recent years, becoming one of the new engines of growth in Ningbo's economy.
A workshop of automobiles in Ningbo. [Photo/zj.zjol.com.cn]
Among the listed companies in Ningbo, the automobile manufacturing enterprises is the most dynamic sector, including Ningbo Huaxiang, Jifeng, Junsheng Electronics and Top Group. Projects introduced to the city have expanded to an industrial chain after years of accumulation and transformation. Ningbo has now become one of the top 20 automobile manufacturing bases in China.
On Oct 24, 2013, with the launch of the New Speed project, the Shanghai Volkswagen Ningbo Branch was officially put into operation in Hangzhou Bay New District in Ningbo, with total investment of 11.76 billion yuan ($1.74 billion) and an annual production of 300,000 vehicles. Not only was the project constructed in just 22 months, a global construction record for Volkswagen, but also it made Ningbo's automobile industry shine.
New energy vehicles developed in Ningbo. [Photo/zj.zjol.com.cn]
On July 30, 2016, 500 employees at Geely Zhidou headquarters moved to Ninghai. Geely Zhidou Electric Vehicle Production Base, with an investment of 2 billion yuan, has an annual production capacity of 100,000 pure electric vehicles.
"The arrival of Geely Zhidou Headquarters will power the engine of Ningbo's new energy vehicles and related industries,” said director of Binhai New Area in southern Ningbo. It is also said that an auto parts and mold industry park will be established near Geely Zhidou to form a production and supply one-stop service chain.
The Geely vehicle project in Hangzhou Bay New District was a new starting point for the transformation and development of Ningbo's 100 billion-level automobile industry base. The siphon effect brought in more than 100 world first-class auto parts enterprises, including Faurecia from France, Johnson from the United States, and Wandu from South Korea, many of which are World Top 500 enterprises. A huge automotive industry cluster has been formed through the extensions of an industrial chain, supply chain and capital chain.
Ningbo is one of the national Made in China 2025 pilot demonstration cities, as well as an important research and development (R&D) and production base for core spare parts and automotive electronics.
Geely vehicle project in Hangzhou Bay New District. [Photo/zj.zjol.com.cn]
"Ningbo has become a base of 100 billion-level automobile industry, focusing on intelligent manufacturing, development of complete vehicles and key parts manufacturing, new energy vehicles, internet vehicles, automotive creative design, automobile finance, automobile exhibitions, automobile logistics and leasing industry. The initial development of the entire industrial chain of automobiles is well underway,” said a researcher at Ningbo Development Strategy Research Association.
By the end of 2016, there were 537 automobile manufacturing enterprises above designated size in Ningbo, with an accumulated output value of 192.4 billion yuan, a year-on-year increase of 29.8 percent. In the 35 major industries in the city, the output value of the automobile manufacturing industry surpassed the electrical machinery and chemical raw materials products for the first time, and became the largest industry in the city.