Inovance Technology Announces Investment in New Energy Vehicle Parts Production Base in Suzhou

Suzhou Inovance United Power Systems Co., Ltd., a holding subsidiary of Shenzhen Inovance Technology Co., Ltd., plans to invest no more than RMB 5 billion in Suzhou to build a new energy vehicle parts production base in the next five years. The base will include production workshops and related facilities such as stators, rotors, electronic controls, power supplies, and assemblies. The move aims to expand production scale to meet the rapid growth in orders for new energy vehicle-related products.