Construction started on Nantong Great Electric Co Ltd's factory in the Chongchuan Economic Development Zone in East China's Jiangsu province on April 20, local media reported.

The factory, which cost 685 million yuan ($99.44 million) and spans 137 mu (9.13 hectares), is aimed at developing the automotive electrical connection system and producing related products.

Following its completion, the factory is expected to have an annual turnover of 2 billion yuan and employ 1,500 people.

The factory will boost the development of the zone's high-end intelligent manufacturing and automotive electronics industry.

NTGEC, which funded the factory, is a high-tech enterprise that specializes in developing and producing automotive electrical and control systems. It is one of the first enterprises to be listed on the Beijing Stock Exchange.

In recent years, the company has ramped up efforts to expand its involvement in new energy vehicles.

For example, NTGEC has developed EV chargers and high-voltage power harnesses, which have been used in BAIC electric vehicles.

According to the company, the factory in the zone will boost its high-quality and sustainable development.

The opening ceremony for the factory is held in the Chongchuan Economic Development Zone in East China's Jiangsu province on April 20. [Photo/WeChat account: ntjjkfq]

A rendering of the factory. [Photo/WeChat account: ntjjkfq]