Fischer Group has signed an agreement with the Taicang High-tech Zone on Aug 25 for a new project revolving around energy vehicle parts. The project will receive $30 million in investment and has $12 million in registered capital.

Fischer group is a family enterprise founded 50 years ago. It is mainly involved in mechanical manufacturing, steel pipe manufacturing, hydraulic forming, and environmental protection technology.

It is the world's leading supplier of stainless steel and special alloy pipes and has 49 subsidiaries in 37 countries.

The new energy vehicle parts project will cover a total area of 22.5 mu (1.5 hectares) and engage in the production of exhaust systems for high-end vehicles and new energy vehicles. It will also make products for large automotive manufacturers like BMW and Mercedes-Benz.

Taicang has always attached great importance to foreign cooperation and has been cooperating with Germany for 20 years. It is home to over 340 German enterprises.

The Taicang High-tech Zone boasts a solid foundation for the development of the automobile industry, and this new project is expected to further upgrade and expand the zone's new energy auto parts industries.