Chery's gigafactory in Jimo district, Qingdao rolled the first vehicle off its production line on Nov 18.

The gigafactory is located in the New City of Automobile Industry in Jimo district. It is also the first gigafactory built by Chery that is fit for mass production.

Chery's Qingdao gigafactory starts operations. [Photo provided to chinadaily.com.cn]

The gigafactory has facilities for stamping, welding, painting, final assembly, a research and development center, and testing facilities. The gigafactory's construction area spans about 260,000 square meters. The gigafactory can also simultaneously realize the hybrid production of several types of conventional power and new energy passenger vehicles, with an annual output of 200,000 units.

On average, a new vehicle can be rolled off the production line every 1.5 minutes at the gigafactory, which is expected to achieve an annual output value of 38 billion yuan ($5.33 billion). The project has also attracted more than 20 enterprises that support the industrial chain to settle in Jimo.

Chery's Qingdao gigafactory [Photo provided to chinadaily.com.cn]

Chery Chairman Yin Tongyue said that the gigafactory was built within 17 months, thanks to local government's support.

Yin added that the company plans to exert the industrial agglomeration effect of the gigafactory, strive to make positive contributions to the high-quality economic development of Shandong province and Qingdao, and help Qingdao become the world's largest new-energy automobile industry base as well as the world's industrial internet capital.

Since January, Chery has posted positive growth despite the grim situation throughout the industry. From January to October, it sold 1.03 million cars and achieved an operating revenue of 167 billion yuan, up 38.8 percent and 46 percent year-on-year, respectively. 

Chery's Qingdao gigafactory [Photo provided to chinadaily.com.cn]