19 Dec 2014
Shaanxi, China - The local government of Baoji, Shaanxi province signed a contract for a 4 billion yuan (€520 million) Finixx self-sealing safety tire project on 3 Dec. Total capacity of the project is expected to exceed 20m/year.
The first phase, with 2.8 billion yuan (€364 million) investment and 10m/year capacity, is scheduled to be completed within 24 months and bring in 8 billion yuan (€1 billion) annual revenue when in operation.
This is the Baoji's second large automotive project, after Geely's whole vehicle plant that signed the contract in 2013.
Favorable policies will be provided to the project to further develop the city's automotive sector, according to the local government's website.
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