A forum involving leading companies and investment institutions in the automotive and power equipment sectors is held in Rugao, Nantong. [Photo/Nantong Daily]

Rugao brought together listed companies, leading enterprises, and investment institutions from the automotive, auto parts, and power equipment industries for an in-depth discussion on development, upgrading, and innovation on Nov 2.

Participants exchanged insights on key topics such as technological breakthroughs and emerging market opportunities. The discussion outlined clearer development pathways for both industries and fostered new consensus on industrial collaboration and regional cooperation.

In October, the 134-year-old Swedish heavy-duty truck brand Scania began mass production in Rugao. "Scania offers the world's best trucks and transport solutions. In addition to heavy-duty diesel trucks, we are developing electric models and hope to integrate China's advanced new energy technologies into our new products," said Ino Moberg, vice-president of Scania Industrial Operations Asia.

Meanwhile, Sieyuan Electric, a leading enterprise in Rugao's power equipment sector, continues to innovate and expand abroad. Chen Zhaoping, the Party secretary, said that the company plans for its Rugao operations to generate more than 30 billion yuan ($4.21 billion) in new annual orders and exceed 20 billion yuan in annual revenue by 2029.

Rugao plans to accelerate the development of a 100-billion-yuan automotive and auto parts industrial cluster and build a nationally leading production base for ultra-high voltage, extra-high voltage, and medium-voltage power transformation equipment and key components, further solidifying its position within China's high-end manufacturing landscape.