Ladbrokes Automotive Technology Industrial Park in China will begin production of static load fatigue, automotive sensors, and all-aluminium chassis. The Industrial park is spread across 500 acres and has an investment of CNY2bn. The Industrial Park will be an automotive technology service industry cluster.
In the first phase, the park, located in Qingdao city of Shandong province, will produce lightweight chassis and military products. The all-aluminium chassis project has an investment of CNY100mn ($15.44mn) and will be put into production in June 2021.
In the second phase — involving an investment of CNY500mn and still under construction — intelligent equipment, auto parts, and new energy battery industrial units will come up. The second phase will start production in September 2021.
After being fully operational, the industrial park is expected to fetch a revenue of CNY1bn and CNY300mn in taxes. The entire industrial park is expected to have an output value of CNY570mn in 2021, and CNY4bn within five years.