Shanghai Juzhen to invest $1.5b in Zhuhai's NEV industry
Juzhen Data Tech (Shanghai) will invest 10 billion yuan ($1.5 billion) in Zhuhai, according to a strategic cooperation framework agreement it signed with the Zhuhai Municipal People's Government on June 27.
A smart automobile headquarters base, an industrial park on artificial intelligence and autonomous driving, a national smart automobile sci-tech innovation center, and an intelligent logistics park will be built by the enterprise in Zhuhai.
Upon operation, they are expected to generate annual output value of 30 billion yuan ($4 billion) and over 1.5 billion yuan ($223.9 million) in tax revenue.
Zhuhai currently is sparing no effort to develop its four leading industries of new-generation information technology, new energy, integrated circuits, as well as biomedicine and health. Development of three advantageous industries of smart home appliances, equipment manufacturing, and fine chemicals will also be boosted.
Juzhen Data Tech's new project in Zhuhai is expected to fill in the gap of core processes in Zhuhai's new energy vehicle industrial chain. It is also expected to realize coordinated development with existing projects in the city invested by enterprises like Shenzhen-based Sunwoda Electric Vehicle Battery, Yunnan Energy New Material, and Wuxi Lead Intelligent Equipment.
Juzhen Chengshi 01 delivery vehicle [Photo courtesy WeChat account: gh_50e070e64816]
Founded in 2021, Shanghai-based Juzhen Data Tech is a domestic technological leader in the R&D of new energy and autonomous delivery vehicles as well as last-mile automated delivery services. It is the first autonomous driving technology company to qualify for national vehicle production in China.
The company integrates AI technology and industrial capabilities onto new energy vehicles to provide green, safe, and efficient solutions for urban delivery. It has a 500-acre intelligent automotive production facility in Shandong covering four technological processes of stamping, welding, painting, and final assembly with an annual capacity of 100,000 vehicles.
Zhuhai Party Chief Lyu Yuyin, Mayor Huang Zhihao, Juzhen Data Tech founder and chairman Liu Chuanfu, and other senior officials attended the contract signing ceremony.