BEIJING — The Wuhan Financial Growth Funding Co. plans to take a position 50 billion yuan ($7.30 billion) to construct an modern vehicle hall within the metropolis that can give attention to new vitality autos, automotive electronics, automotive chips and the automotive aftermarket.
In an announcement on Thursday, the state-owned firm mentioned in cooperation with a number of main banks it goals to create an industrial hub, or “China Auto Valley,” that can have industrial parks and high-tech enterprises.
Wuhan, the largest metropolis in central China, is the second-largest auto manufacturing middle within the nation behind Shanghai. Dongfeng Motor Group Co., a serious state-owned automaker, is predicated within the metropolis.
As well as, non-public Chinese language automaker Zhejiang Geely Holding Group Co., Nissan Motor Co., Honda Motor Co., Normal Motors and Stellantis function main automobile meeting crops within the metropolis.