The opening ceremony of Binzhou engine parts base of BAIC Group has been held in Binzhou, Shandong. According to Xu Heyi, Chairman of BAIC Group, the first lightweight aluminum component facility is a starting point for BAIC Group to improve its lightweight technology.
The total investment of Binzhou engine parts base reached 13.8 billion yuan. In June 2014, BAIC Group and Binzhou city signed the strategic agreement. 250,000 cylinders, cylinder heads and crankshafts will be produced every year when the first phase is completed.
It is expected to reach 30 billion yuan of lightweight industrial cluster by 2020.