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Investment promotion fair held to enhance automobile industrial supply chain in Guangdong

2022-May-23       Source: newsgd.com

​Recently, the Department of Commerce in Guangdong held an investment promotion conference on the automobile industry to enhance the industry’s supply chain within the province.

(Photo provided to Newsgd.com)

The conference attracted over 100 leading enterprises from home and abroad, including ZF, Mitsubishi Electric, Hitachi Anstemo, SK, Fick, Hyundai Motor, Nissan, Toyota, Honda, GAC, and Xpeng Motors.  

A total of 31 auto and parts companies from many countries including the UK, Japan, ROK and Germany expressed their intention to set up new projects or increase capital and expand production in Guangdong, with a total investment of over 48.5 billion yuan. Investments have covered essential automotive parts, intelligent transportation, supply chain supporting industrial parks, automotive services, and other fields.

At the conference, the Department of Commerce and the Department of Industry and Information Technology introduced Guangdong's latest policies to encourage foreign investment, stimulate automobile consumption and support the automobile industry. 

GAC Group executives introduced the Group's strategic development plan, expressed the suppliers' desire for near-localization support, and further expressed their wishes to participate in domestic and foreign automotive industry chains. Some supply chain companies have also issued cooperation invitations. 

Hyundai Motor Group, taking the Group's first overseas Fuel Cell System Plant in Guangdong as an example, praised Guangdong's efficient and pragmatic government work systems as well as service enterprise initiatives.

As a representative of the world's top parts suppliers, ZF introduced the company's strategic plan to enter the South China automobile market.

In recent years, Guangdong has implemented policies to support ten strategic pillar industry clusters, including the automobile industry. They have a high degree of relevance, a relatively complete industry chain, and a wide influence range, with a total income reaching 15 trillion yuan in 2019.

Reporter: Nan

Editor: Wing, Olivia, Jerry

Editor: Nan

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