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On 22 November 2010, the opening ceremony of geological exploration of Project Shizuishan for Youngman Automobile Group was held in the economic region, Xinghai Town.
Since agreement signing on 16 September, the top executives and experts from Youngman Automobile Group (over 60 people) completed the prophase preparation such as site selection, registration, planning, authorization and financing within three months. Youngman Automobile Group will invest 2.6709 billion Yuan RMB on the project, referring to the annual production capacity of 210,000 heavy-duty trucks, 510,000 large-sized engines, 60,000 hybrid transmissions, 200,000 iron castings, aluminium castings and AlMg-alloys castings as well as auto parts. Phase one is related to the planning investment of 8.083 billion Yuan for 5 projects and 13 subprojects. On 21 and 22 November 2010, Youngman Automobile Group has started geological exploration of auto production base in Huinong region and Pingluo County respectively.
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