The commencement ceremony of Musashi Auto Parts (Zhongshan) Co Ltd's second factory was held to mark the beginning of its construction on December 16.

This is the first "Plan with Design" construction land project in Zhongshan. Covering an area of about 77.6 mu (about 5.17 hectares), it will focus on the production and manufacturing of NEV auto parts, with an estimated total investment of 900 million yuan. After fully put into production, the total output value of the first and second factories is estimated to reach 2 billion yuan per year, and the tax revenue is expected to hit 200 million yuan per year.

Musashi Auto Parts (Zhongshan) Co Ltd is a wholly-owned subsidiary of Japanese listed company Musashi Seimitsu Industry Co Ltd that was established in Torch Development Zone, Zhongshan in 2003. Musashi Auto Parts designs and manufactures automobile gearboxes, key engine parts, ball joints and other parts. Its main clients include such well-known automobile manufacturers as Honda, Ford, Nissan and BYD. This year, the company's estimated annual income is about 1.2 billion yuan, and it has taken up about 1/4 of the global differential gear market share.