Landai Technology, the Chinese automotive supplier, has signed an “Industrial Project Investment Contract” with the management committee of the Chongqing Bishan high-tech industrial development zone. The agreement is for the construction of a state-of-the-art manufacturing facility in Bishan district to make components used in EVs and touchscreen cover glass.
With a planned investment of 2 billion yuan ($277 million), Landai will allocate 25% of the investment towards the EV component manufacturing project and 20% for the production of touchscreen glass. The remaining monies will be invested in other areas, including research and development. The primary objective is to establish a production line capable of manufacturing 4 million units of high-precision EV components annually, along with 5 million pieces of in-car, industrial control, and 3D glass cover panels, among other related products.
Landai’s wholly-owned subsidiaries, Chongqing Landai Transmission Machinery Co., Ltd., and Chongqing Xuanyu Optoelectronic Technology Co., Ltd., will be responsible for the EV component manufacturing and touchscreen glass manufacturing, respectively.
Upon reaching full production, the project is anticipated to generate an annual output value of approximately 1.15 billion yuan ($159 million). EV component manufacturing project will contribute 850 million yuan ($118 million), while the touchscreen glass manufacturing project will account for 300 million yuan ($42 million).
