New energy vehicles drive Rugao economy
Rugao, a county-level city in Nantong, East China's Jiangsu province, saw production of 260,000 vehicles with a total output value of more than 30 billion yuan ($4.35 billion) in its new energy vehicle sector, from January to November this year.
The city is now home to 48 new energy vehicle and auto parts enterprises above designated size –– with annual main business income exceeding 20 million yuan.
New energy vehicles are one of the country's seven strategic emerging industries. Rugao is committed to further developing the industry, with six enterprises with complete vehicle production capacity and a number of auto parts companies.
Among them, Bing Energy Company boasts patented platinum carbon nanocomposite technology, which is in the top level for this type of technology in China.