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TEDA's auto industry output to hit USD 20 bln in 2012

Jun. 29, 2012 (China Knowledge) - Tianjin Economic-Technological Development Area or TEDA, a triple-A rated industrial park, announced its annual output value in automobile industry to reach RMB 105.44 billion or USD 16.48 billion in 2011 and realized RMB 9.04 billion in profit, up 15% YoY.

The first four months of this year, TEDA's automobile industry had booked RMB 40.79 billion in output value, an increase of 34.6% YoY, and its profit surged 45.6% than a year earlier to RMB 3.73 billion. Maintaining at this growth rate, TEDA's auto industry output is expected to reach RMB 130 billion or USD 20.4 billion.

As one of the pioneering national's new industrialization demonstration areas, TEDA constantly strengthens its support in auto industry supply chain and, by the end of 2011, it had a cluster of 120 auto enterprises such as Tianjin FAW Toyota Motor Co, Great Wall Motor Co Ltd<601633><2333>, Panasonic Corp, Fujitsu Ten Ltd, Stanley Electric Co Ltd, Kumho Tires Co Inc. and Denso Corp. Center on FAW Toyota and Great Wall Motor, TEDA had formed two auto industry clusters in the industrial park.

Last year, TEDA produced 515,500 units of passenger vehicle, grew 6.9% than a year earlier. The production of radial tire, engine control unit, gearbox, car audio, wheel hub, engine and wire harness reached 13.67 million unit, 1.26 million unit, 85,900 unit, 6.21 million unit, 0.96 million unit, 32,621 megawatt and 23.06 million unit, respectively.

The favorable geographical location of TEDA also added to its competitive advantage as most ideal distribution center covering the northern China region and Beijing where it is enjoying the fastest growth in auto sales. With its deep seaport and strategic location, most auto assemblers and auto parts manufacturers use TEDA, not just for import, but export of finished products.

Bestowed with Central government's preferential incentives and selected as national-level strategic automotive industry base, auto enterprises in TEDA receive relentless supports and close attention to operate in most efficient mode.

In recent years, TEDA continuously focuses on introduction and development of auto technology; and, as at the end of 2011, it had housed 2 national and 8 provincial-level research institutions. Currently, over 94% of its automobile companies had obtained the ISO 9000 and ISO/TS 16949 certification.

By 2015, TEDA is expected to produce more than 1.2 million units of auto vehicles according to analysts' estimates. This places TEDA as a major automotive industry hub and supply chain in the country.

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