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Qingdao FTZ drives automotive growth after Spring Festival

(chinadaily.com.cn) | 2025-02-08

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Workers use robotic arms to assemble new energy vehicles at the SAIC-GM-Wuling Qingdao branch. [Photo/IC]

On Feb 5, the first working day after the Spring Festival holiday, businesses in the China (Shandong) Pilot Free Trade Zone in Qingdao sprang into action, stepping up production to fulfill orders. At the SAIC-GM-Wuling Qingdao branch, the production floor was alive with activity as workers efficiently assembled new energy vehicles, setting the stage for a strong start to the year.

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Workers inspect new energy vehicles before they roll off the production line at the SAIC-GM-Wuling Qingdao branch. [Photo/IC]

The automotive manufacturing industry remains a key driver of industrial growth, serving as a powerful engine for both economic development and technological innovation. With its far-reaching impact, the sector is interconnected with over 150 industries, from traditional fields such as steel, rubber, glass, and textiles to cutting-edge industries like electromechanics, electronics, communications, software, and even artificial intelligence.

SAIC-GM-Wuling's Qingdao branch benefits from a well-established network of local suppliers, including 45 first-tier partners providing critical components such as body parts, chassis, seats, and interior plastics. With an annual output value exceeding 5 billion yuan (approximately $700 million) and a localization rate above 80 percent, the company plays a pivotal role in driving the local economy and reinforcing the region's industrial strength. By prioritizing local production, the company not only bolsters the automotive sector but also fortifies economic ties between Qingdao and its surrounding industries.