Midea is adding car components to its mainstay business of making home appliances in Foshan, Guangdong. Photo Xinhua
China’s EV market: top appliances maker Midea’s US$1.7 billion car parts plant eyes market’s exponential growth
- Shenzhen-based company is building an 11 billion yuan (US$1.74 billion) factory to make EV components to meet growing demand for green cars
- Plant will be capable of generating 60 billion yuan worth of parts annually, including power steering motors and thermal management systems
Midea is adding car components to its mainstay business of making home appliances in Foshan, Guangdong. Photo Xinhua
