Yantai Automobile Parts Exports Increased by 24.4 Times in the First Half of the Year

According to statistics of Yantai Customs, in the first half of 2011, Yantai City's total exports of autos (including spare parts) and auto parts were US$ 5,689,300 and US$ 80.85 million, respectively, which was 25.4% and 24.4 times higher than the same period of last year.

It is understood that automobile exports are mainly based on Shanghai GM Dongyue Automobile Co., Ltd. The GM Dongyue III project under construction is expected to be put into operation in the second half of 2012. It will have a production capacity of 120 vehicles per hour and become the largest vehicle production plant in Shanghai. By then, Dongyue Base will have an annual production capacity of 480,000 complete vehicles, 660,000 engines and 300,000 automatic transmissions, which will attract more component manufacturers to follow-up and settle down. According to the plan, by 2015, Yantai Automobile's production capacity will reach 1 million. At the same time, Fushan District is strongly building an auto parts industrial park. At present, there are 110 auto parts enterprises in the region, with a total investment of 15.6 billion yuan, of which 16 are the world's top 500 companies.

The relevant staff of the Bureau of Commerce of Yantai City believes that in the first half of the year, the value of automobile and parts exports has risen sharply, mainly in the context of the recovery of the international auto market, and companies have vigorously explored the achievements made in the international market. In addition, enterprises continue to expand the scale of production, the continuous improvement of the industrial chain is also an important reason.