Haering Group, a German leader in precision manufacturing, signed an agreement on Aug 5 with Taicang, a county-level city of Suzhou.

Haering Group signs an agreement on Aug 5 with Taicang to initiate its intelligent auto chassis and robot actuator core components project. [Photo/WeChat account: tcfbgw]

Haering is poised to launch its intelligent auto chassis and robot actuator core components project and back it with a cumulative investment of $50 million. Once fully operational, it is projected to generate an output value of 500 million yuan ($69.62 million).

In 2004, Haering established Haering Precision Technology (Taicang) — its first China plant and sole Asian factory — in Taicang. Over the past two decades, it has deepened its roots here and made multiple capital injections.

Serving as a "business ambassador" for Taicang, Haering has introduced numerous German companies to the city. It also maintains efficient cooperation with local private enterprises and domestic universities, serving as an exemplary development model for German businesses in Taicang.