On February 26, the People's Government of Baini Town, Sanshui District signed a business contract with Rainbow Group, which will land a headquarter for auto parts manufacturing in Julongwan Intelligent Equipment Industrial Park.
Signing ceremony (Photo by Li Dong)
The project is expected to be powered up by an investment of $200 million and a plot area of 53 thousand square kilometers, with an aim to breed an industrial cluster of high-end intelligent equipment manufacturing in Sanshui, and create a highland for local featured industries in Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as a whole.
As a Tier One suppliers for Tesla and BYD, Rainbow Group prides itself on being the top auto parts manufacturer in South China and ranking top 3 nationally in terms of production in accessories like car seats, safety airbags, and taking up a market share of 60% in the European and US market with its braking system accessories. Rainbow Group owns a business portfolio that includes automotive security systems, brake systems, safety systems and other automotive precision components.
The project line will start running in 2023, as expected, with an annual output of 1.5 billion yuan. The project will be responsible for all of the firm’s clients in the GBA, and seek to build a modernized economic base integrating headquarters, R&D, and intelligent manufacturing.
As the selected location for the project, Julongwan Intelligent Equipment Industrial Park in Baini Town marks brand-new heights and standards in Sanshui to build an advanced automobile manufacturing cluster. So far there have been 60 complete vehicle and auto parts manufacturers in the park, and a group of World Top 500 and China’s Top 500 companies were also introduced – a complete, effective and intensive industrial chain is taking shape.
The settlement of Rainbow Group breaks new ground for Sanshui to develop a complete industrial chain in auto parts and automobile manufacturing, and injects new impetus into the expansion of the park.
“As China’s first town of rich longevity, Sanshui boasts unique geographical features and a favorable ecological environment. In the near future, four industrial clusters will be built, a more well-connected transportation network will take shape and we will ensure that enterprises settling in Sanshui can benefit from lower cost and high-standard city resources.” said by Li Jun, deputy secretary of the CPC Sanshui District Committee and Sanshui District Mayor. “We will provide more effective services and create a more favorable business environment to promote an early start of the project.
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