China’s No.1 property developer, Shenzhen-based Evergrande, plans to invest RMB160 billion in Guangzhou’s Nansha district to build three New Energy Vehicle bases. They will be fully integrated, with facilities for R&D and production of vehicles, batteries and electrical machinery. The goal is to produce more than one million vehicles once fully up and running, though no specific timeline has yet been given. The land parcel on which the bases will be built was acquired recently in the Wanqingsha area of Nansha. It is 858,000 sqm and RMB847 million.
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