Zhengzhou Coal Mining Machinery (SHA:601717) plans to invest about 5 billion yuan in building a new energy vehicle parts industrial base and research and development center, according to a Saturday filing with the Shanghai bourse.
Shares of the coal mining machinery and automobile parts manufacturer closed 1% higher Monday.
The project will be located in the Wujin National Hi-tech Zone in China's Jiangsu province.
The facility will focus on developing and manufacturing key electric vehicle components, including motor systems, chassis parts and thermal management modules.
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