In Dongying, Shandong province, drivers charge electric commuter buses as the city promotes the operation of new energy vehicles. [Photo/VCG]
In the automobile-manufacturing sector, two companies from Dongying have obtained the requisite qualifications for new energy vehicle production. In the auto parts sector, there are 36 enterprises above designated size, with an annual production capacity of 100 million sets of brake pads, 40.8 million brake discs, 18.2 million sets of wheels, 34 million sets of steel wheels and 6.4 million sets of brake assemblies, achieving a production value of more than 5.4 billion yuan ($753 million) in 2022.
Of these, Xinyi Group and Baofeng Brake Co Ltd mainly supply products to BYD, a leading manufacturer in China, holding a 60 percent market share in the domestic new energy vehicles brake pad market. Shinghwa Advanced Material Group Co Ltd and Dongying Hi-tech Spring Chemical Industry Co Ltd are leading suppliers of lithium battery electrolyte solvents, with an over 60 percent share of the global market in total.
The East China (Dongying) Intelligent Connected Vehicle Proving Ground – jointly funded by FAW Group, Sailun Group and China Communications Construction Company Limited – is engaged in the development and validation of passenger and commercial vehicles. It's also engaged in traditional testing of domestic vehicle and parts enterprises, as well as intelligent connected vehicles and smart transportation systems.
