The construction site of the line protection device and automotive parts project. [Photo/WeChat account: rudongfb]

The line protection device and automotive parts project of Jiangsu Feirong Electric, located in Dayu town, Rudong county, Nantong, is projected to start trial operations in late June.

With an investment of 500 million yuan ($73.68 million), the project is expected to produce 9 million sets of seat locks, 200 million pieces of foam steel wire, and 900,000 sets of seat frames annually, achieving annual sales of 520 million yuan.

Feirong's parent company is a specialized and sophisticated enterprise in Shanghai, with a market share of up to 65 percent in the seat lock fuse segment, which has kept stable relations with Chery, BYD, Tesla, and other mainstream fuel and new energy vehicle enterprises.
The Feirong project chose to settle in Dayu town because of the unique transportation location advantages and the increasingly perfect new energy vehicle industry ecology in the area, according to the project leader.

Looking ahead, the town will attract more core supporting enterprises of new energy vehicles to settle there and continue to strengthen the automotive parts industry cluster.