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Chinese carmaker is planning to about $398m to a new powertrain manufacturing facility in the coastal city of Ningbo in Eastern ’s Zhejiang province.

The investment is part of an agreement signed between the Chinese carmaker and the Ningbo Hangzhou Bay New Area government.

The project is claimed to be the carmaker’s largest powertrain unit in China and is expected to be completed by the end of 2015.

reported that the new facility is expected to have an output capacity of 700,000 units of turbocharged engines per year, in addition to 300,000 units of advanced high-performance transmissions.

Additionally, a new Geely- design and test center is also planned to be built in the Hangzhou Bay New Area.

Recently, the company has acquired -based taxi maker for $17.44m and it will invest about $130m in the taxi maker over the next five years.

Source:Powertrain News

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