(Photo from Suzhou Daily)

Suzhou unveiled 142 projects with a total investment of 91.6 billion yuan on January 2 as the city steps up efforts to become an innovative industrial hub of new energy vehicles.

The projects covered the fields of new energy vehicles, automotive electronics and auto parts, and intelligent connected vehicles.

The output value of Suzhou's automotive industry has been growing at an average annual rate of 12.4% in the past ten years. Auto companies contributed to more than 10% of the total output value of industrial enterprises above the designated size. Suzhou led the country in terms of development of intelligent connected vehicles, driverless vehicles and automotive electronics.

Suzhou is home to a number of core suppliers of new energy vehicles such as United Automotive Electronic Systems (UAES), Schaeffler, Bosch and Mahle. A complete industrial chain covering powertrain, steering and other products is gradually taking shape in the city.

Among the latest development in the industry is an expansion project of UAES with a total investment of approximately 5 billion yuan. The first phase of the project, including six new production lines, is scheduled to open in June this year, and the second phase is expected to be put into operation in July next year.