Landai Technology to build NEV component manufacturing project in Chongqing

Shanghai (Gasgoo)- China’s automotive supplier Landai Technology announced on June 25 that it has signed an "Industrial Project Investment Contract" with the Management Committee of Chongqing Bishan High-tech Industrial Development Zone (hereinafter referred to as the "Bishan High-tech Zone Management Committee") to reach a consensus on matters related to the construction of a new energy vehicle (NEV) components and touch screen cover glass manufacturing project in Bishan District.

Photo credit: Landai Technology

Landai Technology is a Chinese leading supplier of power transmission and touch display core components, with its products widely used in three major categories: NEVs, conventional oil-fueled vehicles, and commercial vehicles. Its key products include automotive transmission assemblies, NEV-dedicated reducers, and components for NEV transmission systems.

In the field of touch display, the company is a supplier to well-known companies such as Corning, Innolux, BOE, and Foxconn, and its products are applied to domestic and international brands such as Amazon, Lenovo, Acer, and Microsoft.

The total planned investment for this cooperation project, which involves the manufacturing of NEV components and touch screen cover glass, is 2 billion yuan. Among them, the fixed asset investment for the new energy vehicle component manufacturing project is 487 million yuan, and for the touch screen cover glass production project, it is 193 million yuan, totaling 680 million yuan. Additionally, around 1.32 billion yuan will be invested in other areas, including research and development.

The project encompasses plans for the renovation and upgrading of existing plant buildings, as well as the procurement of necessary equipment. It aims to establish a production line with an annual capacity of 4 million sets/pieces of high-precision NEV components, and a production line for manufacturing 5 million pieces of in-car, industrial control, and 3D glass cover panels, along with other related products.

The project is planned to be implemented by Landai Technology's first- and second-tier wholly-owned subsidiaries, Chongqing Landai Transmission Machinery Co., Ltd., and Chongqing Xuanyu Optoelectronic Technology Co., Ltd., as the main entities responsible for the NEV component manufacturing project and the touch screen cover glass manufacturing project, respectively, in accordance with the project schedule.

According to the announcement, it is estimated that the project will generate an annual output value of around 1.15 billion yuan after reaching full production. Of this, the NEV component manufacturing project will contribute an additional output value of 850 million yuan, while the touch screen cover glass manufacturing project will contribute 300 million yuan.