CHTC Kinwin (Nanjing) Automobile. [Photo/Tide News]

CHTC Kinwin (Nanjing) Automobile signed an agreement to invest in a high-performance electric drive system and electrification platform project in Liandu district of Lishui, Zhejiang province, on Dec 30.

The project represents a key breakthrough in Liandu's strategic emerging industry layout and deepens its presence in the core field of new energy vehicles.

With total investment exceeding 2.05 billion yuan ($293.57 million) and covering 300 mu (20 hectares) of land, the project will be implemented in two phases.

The first phase will focus on production lines for new energy vehicle electric drive systems, airport shuttle buses, and high-performance electrification platforms. Once operational, it is expected to create around 200 jobs and generate annual sales revenue of 1.5 billion yuan.

Kinwin is a national high-tech enterprise specializing in R&D, production, and sales of new energy vehicles and core components. Its products are exported to over 40 countries and regions worldwide.

The company's strengths include electric control technology integrated with AI, high-power-density flat-wire motors, and vehicle design capabilities emphasizing lightweight materials.

Wang Xianfeng, the company's chairman, said the firm chose Liandu for its favorable business environment, strong green manufacturing foundation, and commitment to eco-industrial development, which align with its goals of advancing green transformation in transportation.

Upon completion, the project will serve global markets and act as a technological anchor for regional industrial upgrading.

It is expected to drive the coordinated growth of local precision manufacturing, new materials, and software information industries, accelerating the formation of a high-end, intelligent, and green new energy vehicle component cluster in Liandu.