Automobile and new energy vehicle industry

The output value of the automobile and auto parts industry was 14.35 billion yuan ($2.09 billion) in 2017, 8.1 percent of that of the zone. Chang’an Automobile reached an output value of 8.87 billion yuan, a year-on-year growth of 220 percent; Continental Corporation produced 8.44 million tires, with an output value of 3.1 billion yuan, up by 40.5 percent year on year.

In addition, the Hefei National High-tech Industry Development Zone is trying to develop the new energy vehicle industry. It has encouraged traditional automobile companies to integrate with the new energy vehicle industry, and introduced some new energy vehicle companies through JAC Motors, Chang’an Automobile Company Limited and Continental Corporation. It also promotes new energy electric buses in public transportation. It has gathered more than 30 companies related to the new energy vehicle industry so far, with an output value of new energy vehicle and its related industries of 500 million yuan in 2017.

Assembling developing and emerging strategic industries is an important support of the regional economy. Hefei National High-tech Industry Development Zone has a serious of core companies with obvious agglomeration effect such as Chang’an Automobile Company Limited and Continental Corporation. The zone will take advantage of the leading role of these companies and form a serious of industrial clusters, such as the Chang’an automobile industrial park.