DFM to Invest over 46 Billion Yuan to Help Wuhan's Auto Industry Transform in Coming 5 Years

At 2020 Wuhan "Cloud Investment Promotion" for Central Enterprises on May 15, the President of Dongfeng Motor Corporation (DFM) revealed that DFM would step up operations in Wuhan in the coming five years by investing over 46 billion yuan in major projects to boost the transformation of Wuhan's automobile industry.

DFM signed PnP Wuhan Innovation Center Project and ten serial projects. For the former, DFM will establish a joint venture with global innovation platform-Plug and Play (PnP) at Wuhan Development Zone (WDZ), to create a prospective, networked and shared global smart mobility and innovation ecology, pool global innovation resources and seize the commanding point of next-generation industries. DFM will build Wuhan International Intelligent Automobile Innovation Center to accomplish full transformation.

For the latter, based on industrial trends and its facts, DFM will implement 10 projects in three categories (transformation, core capacity improvement and new business cultivation), covering key fields like innovation, sales, intelligent connection, digitalization and intelligent manufacturing. DFM is expected to invest 10 billion yuan to cooperate with WDZ in headquarters construction, R&D, manufacturing, sales and finance.

DFM is headquartered in Wuhan. Wuhan Base is DFM's key R&D base, as well as a major manufacturing base of passenger vehicles, new energy vehicles, intelligent connected vehicles and parts.

All enterprises under DFM, including Wuhan Base, have resumed work and production. Wuhan is always a key area in DFM's business layout and development. DFM will never change its confidence in the healthy development of Wuhan Base, the direction of accelerating transformation and restructuring of Wuhan Base and the goal of promoting the high-quality development of Wuhan Base.

As a national central city under construction, Wuhan enjoys prominent advantages in location, transportation and talents; as a renowned auto city, Wuhan has a solid auto industry foundation, an integral supporting industry chain, a strong capacity for market radiation and a great appeal to automakers. Besides, Wuhan boasts a legalized, internationalized and facilitated investment and business environment. DFM will be rooted in Wuhan and serve Wuhan at present and in the future.