SANMENXIA, Henan – Suda Electric Vehicle Technology Co., Ltd. (SD) received approval from the National Development and Reform Commission (NDRC) on March 31 for its project to produce 100,000 electric vehicles.
Almost three year after the project was submitted on October 28, 2014, according to some media reports, SD becomes the 12th company to get a new energy vehicle production license following BAIC BJEV, Changjiang Auto, CH-Auto, Chery New Energy, Min’an Auto, Wanxiang Group, JMEV, Chongqing Jinkang New Energy Vehicle Co., Ltd., National New Energy Vehicle Co., Ltd., Yudo New Energy Vehicle Co., Ltd. and Lanzhou Zhidou Electric Vehicle Co., Ltd.
SD’s EV project will use an already approved land in Sanmenxia Economic and Technological Development Zone to build stamping, welding, coating and general assembly workshops as well as R&D center, test track and office buildings.
The project has a total investment of ¥2.6431 billion ($383.24 million) including ¥2.3821 billion for project construction and ¥261 million for cash flow.
Subordinate to Suda Transportation Group, SD was founded in September 2010 with focus on R&D, production and sales of battery electric vehicles and EV parts and components.