Inovance invests $701.3 million in new NEV parts factory in mainland China
The facility is set to produce NEV electric controlling systems, power systems and general assembly parts, and will be developed in stages over five years
Shenzhen Inovance Technology has announced an investment of 5 billion yuan (about $701.3 million) to construct a factory dedicated to manufacturing electrical parts for new-energy vehicles (NEVs), responding to the rising demand from its NEV clients.
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