Guangxi inks 10.18b projects in NEV, mechanical equipment

A matchmaking event for the new energy vehicles and mechanical equipment industry was held in Nanning - capital of the Guangxi Zhuang autonomous region - on July 30.

Some 20 projects with investment of 10.18 billion yuan ($1.42 billion) were signed. 

Wang Hong, deputy director of the Ministry of Industry and Information Technology, noted that in the first half of this year, China's production and sales of NEVs reached 3.79 million and 3.74 million respectively, with year-on-year growth rates of 42.4 percent and 44.1 percent.

What's more, the market penetration rate reached 28.3 percent during the period, while the cumulative production exceeded 20 million units.

"In recent years, Guangxi has attached great importance to the development of the equipment manufacturing industry and actively cultivated industrial clusters of advanced manufacturing industries, leveraging the advantages of leading enterprises such as SAIC-GM-Wuling and Liugong," Wang added.

Liuzhou signed up 15 of the projects during the event, with a total investment of 8.33 billion yuan.