NANNING, Guangxi – Shanghai Sunlong Bus Co., Ltd. (Sunlong Bus) signed an investment agreement here on June 20 with Nanning municipal government for construction of a new energy vehicle production base in the city, according to a report in Nanning Evening News.
Based on the agreement, Sunlong Bus will set up an NEV production plant in Yongning Emerging Industry Park in the city to produce new energy buses and logistics vehicles with a total investment of ¥3 billion ($436 million) including about ¥2.5 billion on fixed assets. Planned annual output capacity will be 10,000 new energy buses and 30,000 new energy logistics vehicles with estimated annual output value of over ¥10 billion and tax revenues of more than ¥1 billion, when the plant goes into full operation.
To help grow the NEV business and facilitate the transformation and upgrade of manufacturing industry of the city, Sunlong Bus will use its advantages in areas including industry, technology, management and finance to integrate resources in the city and turn the NEV production base into a science and technology industrial park which will involve auto part production and new product R&D, innovation, manufacturing, promotion and application.
Wang Xiaodong, secretary of municipal Party committee, said Nanning will further improve its investment and development environment and increase service efficiency in order to facilitate the smooth progress of the NEV project to achieve win-win situation with Sunlong Bus.
Li Quannian, chairman of the parent company of Sunlong Bus, said in addition to the NEV project, the company hopes more cooperation opportunities with Nanning in the fields such as graphene, environment improvement, energy saving and emissions reduction, as well as urban construction with an aim to make contributions to the economic and social development of Nanning.