Taizhou's auto industry accelerates with strong growth

A workshop run by Great Wall Motors in Taizhou, Jiangsu. [Photo/Taizhou Daily]

Taizhou's automotive industry is gaining momentum, with a full range of products covering complete vehicles, bodies, chassis, power systems, and automotive electronics, amounting to approximately 300 different categories.

"The automotive and parts sector represents a distinctive segment of Taizhou's equipment manufacturing industry and has experienced the most rapid growth in recent years," said Liu Jiangming, director of the Taizhou Municipal Bureau of Industry and Information Technology.

With the initiation of Great Wall Motors' complete vehicle project, the sector has experienced expansion, doubling in size over a span of four years, increasing from 38 billion yuan ($5.27 billion) in 2020 to 81.96 billion yuan in 2024.

Great Wall Motors' Taizhou base, its eighth vehicle production facility in China, functions as a core hub for the East China market and a major export center. By the end of 2024, the plant is projected to have produced 709,200 vehicles, resulting in an output value of 62.74 billion yuan.

The "chain-leader effect" of the project continues to enhance the local industry. To date, 14 auto parts projects have consolidated around the base, resulting in a total investment of 11.16 billion yuan. In 2023, the Great Wall Motors Taizhou Technology Industrial Park attained an output of 24.82 billion yuan.

Taizhou also stands out in upstream components, offering over 40 product types that command more than 30 percent of the market share.

The auto and parts sector in Taizhou is now categorized as a key manufacturing industry chain, with a target output of 85 billion yuan for 2025 and a goal of 105 billion yuan by 2027. To achieve these objectives, the city intends to draw in projects related to intelligent connected vehicles and improve brand development.