This year, the automobile industry in Qingdao achieved a sustained, healthy, rapid development. In the first half of the year the automobile industry had an output value of 51.2 billion yuan and a growth rate of 62.2%.

The automobile industry’s growth rate ranked the highest out of the seven key industries of home electronics, the petrochemical and chemical industry, automobile motorcycle industry, marine engineering industry, textile and garment industry, food and beverage industry, and the machinery and steel industry.

Its growth rate reached record highs. The automobile industry also achieved a steady growth of key business indicators and implementation of key projects. In the first half of the year, the city's automobile industry completed 6 key projects, while 9 projects are under construction.

The total investment of the automobile industry reached 3.26 billion yuan which will effectively improve the overall level of auto parts manufacturing in Qingdao and accelerate the pace of the industry towards the high-end market.

New Electric Vehicle and the core components of the project made solid progress. The project will promote and lay a solid foundation for the introduction of high-level cars.

By Yu Meng and Liu Yang