Chinese Firm Plans Electric Car Factory Investment

Zhejiang Founder Motor will have capacity of 300,000 units annually.

Published: 29-Dec-2010

It is reported that Zhejiang Founder Motor plans to spend CNY 875 million ($131M) to build an electric car factory at Shuige Economic Zone in Lishui City.

The factory will have an annual capacity of 300,000 units and is estimated to bring sales of CNY 1.5 billion and net income of CNY 468 million.

As per report, of the investment, CNY 775 million will be used to build the factory and remaining will be used as working capital.

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