CVG, a global supplier of commercial vehicle components, opened its China headquarters, Commercial Vehicle Group (Jiangsu) Co, in Taicang on June 8.

The new headquarters will be dedicated to the development and manufacturing of automotive components. It aims to serve global markets, covering heavy-duty trucks, construction machinery, agricultural equipment, and specialized and military transport vehicles. It is expected to generate more than 700 million yuan ($97.57 million) in annual sales.

As a multinational corporation headquartered in New Albany, Ohio, the United States, CVG's operations extend to Australia, China, Mexico, and various other countries. The company has been listed on Nasdaq since August 2004.

Taicang has long been a critical hub for China's automotive component industry and can provide 70 percent of a vehicle's parts. The successful launch of the headquarters is expected to accelerate the expansion and enhancement of its automotive core component ecosystem and drive further industrial transformation and upgrading.

Taicang's modern cityscape boasts beautiful scenery. [Photo/WeChat account: tcgwfb]