On March 18, the key enterprise of Anhui Province's "861" action plan and the second phase of Wanxiang Qianchao Bearing Co., Ltd. officially broke ground in the Huainan Economic and Technological Development Zone. With a total investment of 100 million yuan, the project is expected to produce 30 million specialized bearings annually and will be completed and operational within the same year. This marks a significant strategic move by the Wanxiang Group to further establish Huainan as a major bearing manufacturing base, aiming to expand its influence across central and western China.
Zhejiang Wanxiang Group, a top 500 private multinational company in China, specializes in automotive components such as bearings and brakes. In late 2001, the group successfully restructured the former Huainan Bearing Company and established the Wanxiang Qianchao Bearing Industrial Park within the Huainan Economic and Technological Development Zone. Currently, the facility produces 20 million sets of bearings annually. Once the second phase of the project is completed, the production capacity will reach 50 million sets per year, generating an estimated total output and sales value of 500 million yuan. This expansion underscores the company’s long-term vision for growth and regional development.
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