The European auto supplier SAF-Holland plans to build its world's largest factory in Yangzhou city in east China's Jiangsu Province, the city government has announced.
With a total investment of 100 million U.S. dollars, the new factory will mainly manufacture auto parts, including suspension systems and axles, for commercial vehicles, according to the company.
It will be located in the economic and technological development zone of the city, and will include a 46,000 square-meter workshop, and a 20,000 square-meter warehouse, the company said.
The construction will be completed before 2019, and is expected to generate 600 million yuan (94.8 million U.S. dollars) in revenue every year when in operation.
"Yangzhou has a solid industrial base, and its water and land transportation are both convenient," said Mao Guoxin, CEO of the company's China operations. "And we have a lot of business partners around the area," Mao added.
SAF-Holland is the largest independent listed supplier to the commercial vehicle market in Europe. It has locations in 28 countries and is active on six continents.