Suzhou-based home appliance manufacturer Lexy holds a groundbreaking ceremony in Suzhou New District on Aug 28. [Photo/snd.gov.cn]
Suzhou-based home appliance manufacturer Lexy held a groundbreaking ceremony on Aug 28 for its new energy components project in the Integrated Free Trade Zone of Suzhou New District.
The new energy components project is one of five core components industry clusters arranged by Lexy to follow technology and market development trends, as well as to contribute to the new energy industry by meeting national carbon emission goals.
The project includes aluminum alloy forming and precision processing, which will be applied in the production of new-energy vehicles, 5G telecommunications equipment, and industrial automation.
The 10-hectare project received a total investment of 1.35 billion yuan ($208.88 million) and is expected to be put into use at the beginning of 2022. Following its projected completion at the end of 2021, it is expected to achieve over 900 million yuan in industrial added value.
Established in SND in 1994, Lexy has been enhancing its smart manufacturing and digital transformation efforts in recent years. The company was designated a "Made-in-Suzhou" brand in May.
