Three Key Projects Settle in TEDA with Investment about 2.25 Billion Yuan

At the signing event of the first batch of key projects of foreign investment and service industry in Tianjin in 2023, three key projects, German Volkswagen Transmission APP550 Power Motor, Geely Industrial Fund and Tianjin Petroleum & Gas Exchange Center settled in TEDA with a total investment of about 2.25 billion yuan. These three key projects inject momentum into the development of regional advanced manufacturing and modern service industry.

Volkswagen Automatic Transmission (Tianjin) Co., Ltd has increased capital several times since its establishment in 2012 in TEDA. The first phase of the APP550 power motor project, with an investment of 150 million euros and a design capacity of 330,000 units, is expected to be put into operation in 2025.

TEDA intends to jointly launch and establish an industrial fund in the automotive field with Geely Group. The initial size of the fund is about 1 billion yuan, and it is planned to invest in cutting-edge technologies and head institutions related to automotive and new energy, integrated circuits, Internet of Vehicles and other automotive fields.

The project of Tianjin Petroleum & Gas Exchange Center will give full play to the advantages of Tianjin's oil and gas and chemical industry resources, port terminals, hub facilities and free trade policies to build an international trading platform for energy, oil and gas and chemical commodities and create a new ecology for the development of a 100-billion-yuan level oil and gas whole industry chain.