Shenshan Special Cooperation Zone Management Committee and BYD Auto Industry Co., Ltd. BYD (002594) signed a cooperation agreement, BYD will invest an additional 20 billion yuan （$314.6million）for the construction of the second phase of the Shenshan BYD Auto Industrial Park project.
Introduction of BYD Industrial Park Project
- the project will mainly engage in the R&D, production and manufacturing of core products such as auto parts and auxiliary sectors.
- The project will be constructed in two phases and is expected to achieve an annual output value of about 10 billion yuan after it is fully completed.
Phase I ：On August 13, 2020, Shenzhen Shenshan Special Cooperation Zone Management Committee and BYD Auto Industry Co., Ltd. signed a strategic cooperation agreement to invest 5 billion yuan to build the first phase of the Shenshan BYD Auto Industrial Park project.
Phase II：BYD added another 20 billion, planning for 600,000 new energy vehicles supporting the core parts production base, the annual output value of the project is 100 billion yuan after full production.
Besides, it is one of the leading projects with the largest investment volume and the broadest development prospects introduced by Shenshan Special Cooperation Zone in recent years.
Our take:
This project will promote the gathering of upstream and downstream projects and accelerate the construction of an advanced manufacturing industry system in the Shenshan Special Cooperation Zone. It is of great significance to further enhance the stamina of industrial development, and build a new center in the eastern Guangdong coastal economic belt.
