The Xi'an Economic and Technological Development Zone, the National New Energy Vehicle Technology Innovation Center (NEVC) and Yudian New Energy Automobile Co signed a deal to build a new energy vehicle technology innovation park and a power battery industrial park on June 16.
With a total investment of 10.3 billion yuan ($1.45 billion), the two projects will enhance the core technological innovation capability and production level of the new energy vehicle field in the development zone.
After the project is completed, the annual output value will reach 20 billion yuan, generating 1 billion yuan in tax revenue.
The new energy vehicle technology innovation park will be built as a technological innovation demonstration platform covering areas such as new energy vehicle batteries, research and development of related technologies, pilot testing and talent cultivation.
It will also provide technological support and services and industrial resources for the power battery industrial park.
As of 2019, the total output value of the automotive industry in the Xi'an Economic and Technological Development Zone reached 90.34 billion yuan.
It is estimated that by 2021, the automotive industry in the development zone will be home to more than 50 enterprises with an annual revenue of 20 million yuan or above, with total industrial output exceeding 100 billion yuan.