BEIJING, July 16 (Xinhua) -- Zotye Automobile (000980.SZ) announced on Monday that it is going to invest 1.5 billion yuan to set up a production base for electronic parts of the intelligent connected vehicles (ICVs) in She county, Anhui Province.
Zotye has signed an agreement with She county government on this investment project.
Under the agreement, Zotye Automobile plans to set a wholly-owned subsidiary to be responsible for the project.
The production base is expected to produce 1 million sets of ICV electronic parts annually.(Edited by Li Haoran, hupingchao@xinhua.org)
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