Tuopu Group

Tuopu Group (601689.SH) signed an investment agreement with Ningbo Economic and Technological Development Zone Management Committee on January 4, 2024, to invest 5 billion yuan in building a robot core components production base on 300 mu of land in Ningbo.

Tuopu Group (601689.SH) announced it will acquire the remaining 61% equity in its joint venture Chongqing Antolin Tuopu Roof Systems Co., Ltd. from Antolin (China) Investment for CNY 11.5561 million, making it a wholly owned subsidiary.

Tuopu Group announced plans to invest CNY 1.5 billion (USD 235 million) over five years to build a new plant in Chongqing, China, to manufacture components for new energy vehicles. The first phase will include a lightweight chassis system and vehicle interior sound insulation system.

Tuopu Group held a completion ceremony for its new 'Air Suspension System Division 1' factory in Ningbo Binhai New Area. The factory has a total investment of about CNY600 million, covers 60,000 square meters, and is expected to start production in June 2022, producing 2 million air suspension units annually.

Tuopu Group announced plans to invest up to EUR 30 million to establish a wholly-owned subsidiary and build a factory in Poland to serve automotive customers in Germany and neighboring countries.