# Inovance to build $701M NEV electrical parts plant in Suzhou

Shenzhen Inovance Technology is investing CNY 5 billion (USD 701.3 million) to build a factory for NEV electric controlling systems, power systems and general assembly parts in Suzhou, Jiangsu province. The facility will be built in stages over five years.

- Type: New facility
- Announced: 2024-08-27
- Where: Suzhou, Jiangsu, China
- Value: $701.3M (5.00B CNY)
- Status: announced
- Products: NEV electric controlling systems, power systems, general assembly parts
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Shenzhen Inovance Technology](https://endata.com/companies/43033.md)
- [Suzhou Inovance Automotive](https://endata.com/companies/52440.md)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/chinas-inovance-jumps-on-plan-to-build-usd7013-million-nev-electrical-parts-plant), 2024-08-27: "Unit Suzhou Inovance Automotive will construct a plant for NEV electric controlling systems, power systems and general assembly parts in Suzhou, eastern Jiangsu province."
- [autotechinsight.spglobal.com](https://autotechinsight.spglobal.com/news/5277725/inovance-invests-7013-million-in-new-nev-parts-factory-in-mainland-china), 2024-08-28: "Shenzhen Inovance Technology has announced an investment of 5 billion yuan (about $701.3 million) to construct a factory dedicated to manufacturing electrical parts for new-energy vehicles (NEVs)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.