Wuhan Optics Valley's advanced automotive supporting enterprise group rises

In recent years, a cluster of high-tech auto parts companies has been rapidly emerging in Wuhan Optics Valley, fueling the region's growth as a key player in China's automotive industry. A few days ago, Wuhan Jinfeng Auto Parts Co., Ltd., a Sino-Japanese joint venture, laid the cornerstone for its new plant in the area. The company, backed by Japan’s Honda subsidiary Toyotomi Research Co., Ltd. and a Chongqing-based firm, is expected to generate 250 million yuan in sales revenue and over 30 million yuan in profits and taxes in 2007. With a total investment of 14.5 million U.S. dollars, the company moved into Wuhan Optics Valley earlier this year and currently operates from a temporary facility. Its new factory, spanning 42,000 square meters, will eventually produce 300,000 sets of auto silencers, exhaust pipes, and other components annually. This year also saw another major development: Wuhan Marunou Auto Parts Co., Ltd., a wholly-owned Japanese company that supplies Dongfeng Honda, announced plans to build a new factory in Optics Valley. It will introduce advanced automatic press production lines, with projected sales revenue reaching 390 million yuan in 2007. Moreover, Wuhan ThyssenKrupp Co., Ltd., a subsidiary of global industrial giant ThyssenKrupp AG, has started construction on its facility in the area. It will supply chassis components to leading automakers such as Shenlong. Additionally, several Japanese automotive electronics and parts firms, including Sumitomo, Hirata, and Hongo, have also established operations in Wuhan Optics Valley. During last year’s Light Fair, the National Torch Plan Wuhan Automotive Electronics Industrial Base was officially established in the valley, further solidifying its status as a hub for automotive innovation. Industry experts believe that the growing presence of auto parts and component manufacturers will significantly boost the development of the industrial base, driving long-term economic growth in the region.

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