In a dynamic surge of development, Taicang's automotive core component industry stands as a key pillar, witnessing a flurry of activity in November.

Schaeffler Group, a renowned global player in the field, with a 28-year commitment to the city, has added investment in Taicang for 13 times, pushing the 2022 annual output past 20 billion yuan ($2.83 billion).

The Schaeffler Group continues investment to Taicang. [Photo/WeChat account: tcfbgw]

Schaeffler's strategic foray into the new energy vehicle sector is evidenced by its decision to expand its factory in Taicang. With a focus on critical components for new energy vehicles, the facility positions Taicang as a hub for the development of comprehensive productive capabilities in the field of electric vehicle components.

The momentum extends beyond Schaeffler, as the city's industrial chain strengthens under the influence of leading enterprises. Over 200 upper-level automotive components enterprises have converged in Taicang, manufacturing nearly 70 percent of a complete vehicle's components locally.

This flourishing industrial landscape incentivizes enterprises like Starconn to set up operations in the city. Starconn is expected to deliver an annual output exceeding 1 billion yuan. Notable ongoing initiatives include United Microelectronics Corporation's new energy automotive powertrain project and the construction of BMTS Technology's China headquarters.

Staffs process the work of robots in Taicang. [Photo/WeChat account: tcfbgw]

Emphasizing German enterprise development as a foundation, the city is actively shaping a core industrial chain for new energy vehicles. The focus spans six major categories, with an agile approach to investment promotion and close collaboration with leading enterprises, aiming to construct and perfect the manufacturing circle of new energy vehicles, facilitating industrial development.