China’s leading solar equipment manufacturer GCL is planning a move into the electric vehicle sector, aiming to make use of its expertise in energy to gain a vital competitive advantage in an increasingly crowded industry, executives said.
The firm is currently building a 5 billion yuan ($721.19 million) solar production base in a new “eco-town” at Jurong near the city of Nanjing, which will also involve the construction of solar-powered residences, warehouses and public amenities.
But the firm is now in talks with auto manufacturers to build facilities and production lines in Jurong to support China’s electric vehicle revolution, Tang Yanzhe, the head of the Jurong project, told Reuters.
“Our investment figures are very conservative and if the car firms come, it is a long industrial chain and many supporting factories will also come,” he said. Reuters