WKW and Wuzhoulong Plan to Build Electric Vehicle Production Base in Germany
2016-11-29
On November 25, Beijing WKW Automotive Parts Co , Ltd (hereafter referred to as WKW) made an announcement, indicating the company is planning to join hands with Shenzhen-based Wuzhoulong in building a wholly owned subsidiary in Germany
On November 25, Beijing WKW Automotive Parts Co., Ltd. (hereafter referred to as WKW) made an announcement, indicating the company is planning to join hands with Shenzhen-based Wuzhoulong in building a wholly owned subsidiary in Germany. Just the day before, the company received a notification from China’s National Development and Reform Commission (NDRC) for the approval of the project.
According to WKW, the project consists of an R&D Center in Stuttgart and a production based covering a total area of 800,000 square meters in Thuringen State. After finishing its construction, the subsidiary will be specialized in researching, developing and producing high-end electric vehicles with an annual production volume of 100,000 units. After completing the first phase of construction, the subsidiary will be able to roll out 30,000 units high-end electric vehicles each year.
The cooperation between WKW and Wuzhoulong in their overseas expansion on the emerging electric vehicle market marks a big step forward for Chinese vehicle brand, changing the status quo of the global vehicle market which has long been dominated by a handful of auto brands from the developed countries.
