Inovance plans to invest 5 billion yuan to build a new energy vehicle parts production base

Shenzhen Inovance Technology Co., Ltd. announced that its holding subsidiary Suzhou Inovance United Power Systems Co., Ltd. plans to invest in the construction of a new energy vehicle parts production base in Suzhou. The total planned investment of the project is no more than 5 billion yuan, and the construction content includes stator, rotor, electronic control, power supply, assembly and other production workshops and supporting facilities. The investment aims to further expand the production scale to meet the rapid growth demand for products related to the new energy vehicle business.