Vitesco Technologies increases investment in Tianjin

Vitesco Technologies has signed a memorandum of understanding with the Tianjin Economic Development Zone Management Committee, planning to invest in the development, testing and production of core products and technologies for electric drive of new energy vehicles in the Tianjin Economic Development Zone. The company plans to invest RMB 1.2 billion in fixed assets to start a new round of investment in core products for new energy vehicles.