Jiading breaks ground on US$238.5m Auto R&D Harbor
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E-mail Shanghai Daily, May 10, 2012
A new research and development zone will be built in Shanghai International Automobile City to help the auto industry rev up its innovation engine.
The Auto R&D Harbor, which broke ground today in Jiading District, covers an area of 200,000 square meters and features around 120 buildings varying in size from 300 to 2,000 square meters.
It can accommodate around 150 auto design and R&D companies, which will provide third-party solutions to major auto manufacturers with highly diversified outsourcing demands.
The construction of the complex will be wrapped up at a cost of 1.5 billion yuan (US$238.5 million) within 18 months, with the prospect of luring investments of US$2 million to US$5 million from each company.
"China's auto R&D is still at a nascent stage," said Rong Wenwei, general manager of Shanghai International Automobile City Development Co. "There is a lot to be explored and improved in this sector to upgrade the country's auto manufacturing expertise."
Seventeen companies signed move-in agreements at the groundbreaking ceremony today. Forty percent are foreign companies, including Pininfarina from Italy and Switzerland-based Delion AG. Pininfarina specializes in auto design while Delion focuses on clean energy.
Preferential policies will be provided to tenants including tariff concessions for imported equipment and business tax relief for technology transfers.
Shanghai International Automobile City aims to become an all-around industrial base with functions ranging from vehicle manufacturing, R&D outsourcing, trade and exhibition.
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