Wuhan Development Zone Automotive Parts Industry welcomes heavyweight members. Yesterday afternoon, three companies, namely Japanese Yorozu Co., Ltd., Mitsui & Co., Ltd., and Baosteel Metal Co., Ltd. signed a contract in the Wuhan Development Zone to invest in the construction of Wuhan Wanbaojing Auto Parts Co., Ltd., which are Dongfeng Honda, Dongfeng Passenger Vehicle, Xiangfan Dongfeng Nissan and Zhengzhou Nissan. The company manufactures automotive chassis suspension products.
The total investment of Wuhan Wanbaojing is about 546 million yuan, and the annual output is about 600,000 pieces. The project will be invested and constructed in two phases, of which the first-phase construction area will reach 20,000 square meters. Construction will begin before the end of June this year, and the equipment will be commissioned and put into production before the end of June next year. After the company's production capacity reaches full capacity in 2013, the company will achieve an annual sales income of approximately RMB 500 million.
According to the person in charge of the development zone, Mitsui & Co., Ltd. is Japan's largest general trading company, with 139 branches and subsidiaries overseas, and the 33rd Fortune 500 company that has settled in the Wuhan Development Zone.
According to the person in charge of Japan's YOROZU Co., Ltd., last year, the number of cars sold in China had exceeded 13.6 million vehicles, and it is forecasted that it will reach 20 million by 2015. Many auto parts companies have high expectations for China's booming auto industry and have increased investment in China. With the increase of Dongfeng Honda's production and the launch of Dongfeng Honda's second plant project, Japan's YOROZU Co., Ltd. will establish a second factory in Wuhan after Guangzhou and provide better services for auto vehicle companies.
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