Chinese automaker NIO plans NeoPark, an EV Industry Park in Hefei with $7.7 billion US initial investment
A concept rendering of NeoPark in Hefei, Anhui. Image: NIO
Hefei lies about 5 hours drive from Shanghai. Image: Google Maps
NIO’s founder, chairman and CEO William Li announced plans this week for a new smart electric vehicle industry park in conjunction with the Hefei municipal government at Xinquao, Hefei, Anhui province, about 5 hours west of Shanghai.
In a ceremony with Chinese government officials, NIO announced that it will be the first major manufacturer to be based within this world-class EV industry cluster, designed as a mega campus to house everything the EV manufacturing industry needs. The automaker has also committed 50 billion RMB ($7.7 billion US) to the initial stages of planning and construction.
NeoPark will be a hub for research and development, design, autonomy as well as parts and components manufacturing, and the concept allows for hundreds of key supporting enterprises to be able to function as an industry cluster within the park.
At 16,950 acres (over 11 square kilometers), the campus of NeoPark will contain manufacturing areas, research and development areas, living space, and an eco-park. It’s estimated that over 50,000 workers will be able to live/stay on campus at any one time, and Hefei plans to support the industry by providing policy support and funding, which, in turn, should attract more EV chain businesses and talent.
A NIO showroom within NeoPark rendered for the presentation.
NeoPark is launch before Chinese media.
Hefei will increase its support for the smart electric vehicle industry through funding, favourable policy and construction. NIO will be heavily involved in the long-term development planning of the park, and will introduce more EV chain businesses through establishing an R&D, corporate and manufacturing presence there.
NeoPark claims green credentials too, though the media event didn’t highlight any specifics at this stage.
NeoPark has the potential to realise an annual production capacity of 1 million vehicles and 100 GWh of battery storage according to NIO, and the campus gross yearly output could reach RMB 500 billion ($77.23 billion US).
Nio executives at the launch of NeoPark.