On July 8th, the wiring harness factory of Shichi Automotive Parts (Jiangsu) Co., Ltd., the headquarters of Shichi Automotive in China, officially opened in Taicang High tech Zone, Jiangsu.
Shichi Automobile is a globally renowned automotive parts company that went public on NASDAQ in August 2004. Its headquarters are located in New Albany, Ohio, USA, and its operations cover the United States, Australia, China, Mexico, and more.
The China headquarters of Taicang will be dedicated to the development and manufacturing of commercial vehicle seat systems and other automotive components, with an expected annual sales revenue of over 700 million yuan after reaching production. The main products include car seats and wiring harnesses, as well as shock absorber assembly, seat assembly, finished product inspection, wiring harness assembly, and provide after-sales service and testing services.
At the signing ceremony of the project held in January this year, Mark Stevens, Vice President of SAIC Motor Asia Pacific, stated that multiple regions were competing for this project, and SAIC Motor ultimately decided to settle in Taicang because of its obvious advantages in various aspects. The Chinese market has enormous potential and is becoming increasingly important to Shichi Automobile. Shichi Automobile is confident in achieving longer-term development based in Taicang.
Taicang is one of the important bases for the national automotive parts industry, where 70% of the parts for a complete vehicle can be found from suppliers. Taicang High tech Zone is the main battlefield for the development of Taicang's automotive parts industry. In recent years, by introducing upstream and downstream enterprises and productive service industries, an industrial innovation ecosystem centered on key core automotive components has been basically formed.
