New home for international automotive R&D in Shanghai
By Han Tianyang | China Daily | Updated: 2012-05-14 07:45
Independent car design and R&D companies could be entering the fast lane in China as the center of global automotive manufacturing shifts towards the biggest auto market worldwide.
Seventeen domestic and international automotive design and R&D companies signed contracts with Shanghai International Automobile City on May 9 to start operations at its Auto Research and Development Harbor, which broke ground on the same day.
At an investment of 1.5 billion yuan ($237 million), the development in Anting town in the northwestern suburbs of Shanghai will cover an area of 12 hectares and house about 150 companies after it is completed in 18 months.
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