Five auto-related firms to set up operations in Bao'an

On the afternoon of Feb. 28, the Second China New Energy Vehicles International Trade Summit took place in Bao’an. During the event, five enterprises in the new energy and intelligent connected vehicle industry chain signed agreements to set up operations in Bao’an District.

The summit brought together government departments, domestic and international auto companies, upstream and downstream suppliers in the new energy vehicle industry, and overseas institutions and buyers from countries such as Indonesia, Poland, France, and Türkiye.

By creating a platform for communication and collaboration between domestic and international governments and enterprises, the event aimed to facilitate the transformation of China’s new energy vehicle industry from exporting products to exporting business models.

Companies that signed agreements include Dazhuo Intelligent Technology Co. Ltd., Rino.ai, Ti Group, Shanghai-based Thundorauto, and Shanghai-based Yuepu Technology Co. Ltd.

A computer-generated image of the smart manufacturing base of Luxshare Precision in Bao'an. Construction on the project commenced in early March. Bao’an Daily

The presence of these enterprises will accelerate the development of Bao’an’s new energy and intelligent connected vehicle industry. They will also support the district’s goals of becoming a key pillar in Shenzhen’s next-generation, world-class auto hub and an important base for vehicle exports.

The intelligent connected vehicle industry is a key sector targeted for development in Bao’an, with an added value of 12 billion yuan (US$1.65 billion) in 2024, an increase of 9.6% year on year.

Home to 943 related enterprises, the district has also attracted pilot projects for autonomous vehicles, unmanned logistics delivery vehicles, and unmanned sanitation sweepers.