Chongqing- Ten new energy vehicle (NEVs) projects have been rated as major municipal projects in Chongqing this year, with a total investment of 25.7 billion yuan (about 4 billion USD), according to the Chongqing Development and Reform Commission on April 6.

Ten new energy vehicles (NEVs) projects have been rated as major municipal projects this year, with a total investment of 25.7 billion yuan (about $4 billion). (iChongqing/Zheng Ran)

Six hundred ninety million yuan was injected into these ten projects in the first quarter, accounting for 20.6% of the annual planned investment. These ten projects include five planned new projects, four ongoing construction projects, and one planned completion project.

New projects

Among the five planned new projects, the Hechuan Intelligent Electric Drive Industrialization Project and the Fuling Geely Technology Project, with an annual production capacity of 12 GWh of power batteries, have started construction.

Projects scheduled to start in the second half of the year include Jiangjin SWAT NEV Parts and Re-manufacturing Equipment Project, Jiulongpo Sinosynergy Technology Industrial Park Project, and Bishan BYD Global Headquarters Project of Power Batteries.

The four continuing construction projects are progressing smoothly. The investment amounts to 250 million yuan, accounting for 40.7% of the annual planned investment.

In Bishan District, a world-leading DCT production line for the new energy industry and an electric drive assembly line is under construction. This production line, worth 5 billion yuan, is part of the Changan-Tsingshan Intelligent Transmission Industrial Park Project.

After its completion, its annual production value will exceed 10 billion yuan.

The interior equipment installation of the seven-speed automatic DCT capacity expansion line will be put into operation this month.

Battery, motor, and electronic control systems are the core components of NEVs.

The Jinkang Phase II Project in Shapingba District has an annual production capacity of 5.2 GWh of EV batteries and 200,000 electric drive systems. So far, the project has entered the main construction phase ahead of schedule. 40% of the annual planned investment was completed in the first quarter. The project is scheduled for completion in December and will be put into operation next year.

In Jiulongpo District, the Project of Qin'an Headquarters Base and NEVs Drive System is 76% complete and is expected to enter trial operation by the end of the year.

The Bosch Hydrogen Fueled Engine Project is under foundation construction, and the main construction will start in August.

In addition, Chongqing Xinfu Automobile Manufacturing Co., Ltd. has invested one billion yuan in the Qijiang High-end Special NEVs Manufacturing and High-strength Steel Hot-rolling and Hot-forming Project, which is expected to be completed this year.

Get ready to lead

China's production and sale of NEVs are expected to double and take 65% of the global market in the first quarter of this year, People's Daily reported on Thursday.

China's automobile production capacity layout is relatively balanced, and the productions in East, Southwest, South, North, and Northeast China accounted for 19%, 17%, 16%, 14%, and 12%, respectively, according to Cui Dongshu, secretary-general of the China Passenger Car Association.

Chongqing's strength in NEV batteries, motors, and electronic control systems will significantly improve through these major projects, which gives Chongqing a great chance to lead the country in the production capacity of electric drive systems and specific demand modules and cells.

China's new energy vehicle market enters a new stage of rapid growth from 2021 to 2030. The sale of new energy vehicles is expected to match fossil fuel vehicles by around 2030, said Ouyang Mingao, academician of the Chinese Academy of Sciences.