A ground-breaking ceremony was held for Wuxi Autowell Technology Co Ltd's new energy equipment manufacturing base in Wuxi New District (WND), Wuxi, Jiangsu province on May 31.

A ceremony is held for Wuxi Autowell Technology Co Ltd's new manufacturing base in WND. [Photo/WeChat account: xinwu_wx]

The base, with an investment of 5 billion yuan ($702.6 million), will focus on producing equipment for the photovoltaic, lithium battery, and semiconductor industries and contain 350,000 square meters of workshops.

Autowell will also leverage the base to cooperate with upstream and downstream enterprises to create a 10-billion-yuan intelligent equipment cluster.

According to Ge Zhiyong, chairman of Autowell, the company's goal is to help clients improve resource utilization and reduce production costs through intelligent equipment.

There are currently 366 intelligent equipment enterprises above designated size in WND. With an output value of over 135 billion yuan, the district's intelligent manufacturing capability has been ranked first in Jiangsu.

Cui Rongguo, Party secretary of WND, stated that the district is currently focusing on developing fields including semiconductor equipment, new energy equipment, aviation and aerospace. WND will provide comprehensive support and a favorable business environment for not only Autowell, but all intelligent equipment enterprises.