A factory invested by German auto parts giant ZF Friedrichshafen AG began operations in Zhangjiagang on April 11.
The factory is the second phase of a Zhangjiagang auto industry project with an investment of $90 million. It is expected to achieve annual sales of around 4 billion yuan ($597 million).
The first phase of the project began operating in November 2015 and earned sales revenue of 2.78 billion yuan ($414.9 million) in 2018. The third phase will be built in June of this year and will be put into use in the second half of 2020.
The ZF Friedrichshafen AG, headquartered in Friedrichshafen, Germany, is a world top 500 enterprise and one of the world's largest suppliers of transmission and chassis technology. It provides auto parts products such as transmissions, steering systems, and chassis systems.
Zhangjiagang Economic Development Zone has cultivated three industry clusters featuring intelligent equipment, green energy and semiconductor compounds.
The auto parts project is expected to bolster the city's economic and industrial development.