[China Chengling Motors brings its "Hengshan brand" to Vietnam] A cross-border industrial cooperation story is unfolding. Recently, a delegation led by Yang Chaoxiang, Chairman of Chengling Motors Co., Ltd. and Vice President of Taiwan Bell Group, along with DUYLINK Investment Co., Ltd., Hong Kong financial institutions, and industry partners, conducted on-site research in Taiyuan Province, Vietnam, and officially announced plans to build a large automobile manufacturing base there. The initial investment of the project is about 3.5 billion yuan, and the planned land area is about 140 hectares. The production base will mainly cover product lines such as motorcycles, trucks, dump trucks, tractors, and special vehicles, committed to building a regional hub for automobile manufacturing and export. Although Chengling Motors is relatively unfamiliar to the public, its associated "Hengshan brand" cars carry profound historical memories. As early as January 10, 2025, Chengling Motors signed a cooperation agreement with the People's Government of Hengshan County, Hunan Province for the "Hengshan Automobile" project, aiming to revitalize the assets of the former Hunan Hengshan Automobile Manufacturing Co., Ltd. This old factory, founded in 1969, was once a national level specialized production unit for military modified vehicles, but was discontinued due to market changes. Chengling Motors plans to retain the "Hengshan Brand" trademark and gradually complete the acquisition within three years, promoting the revitalization of this classic brand. According to the plan, after the first phase of production of the Vietnam base, the annual production capacity is expected to reach 20000 units, and the annual output value is expected to reach 1 billion yuan. The products will cover a variety of vehicle models, including municipal sanitation vehicles, emergency rescue vehicles, new energy buses, high-end business buses, as well as logistics refrigerated trucks, elderly RVs, and more. Editor/Yang Beihua

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• 2025.12.12 09:41
• [Signed a contract for a 1.1GW project and put into operation a 273MW power station]
• On December 11, 2025, Norwegian renewable energy company Scatec announced the completion of equity contracts for its large-scale "Obelisk" solar energy storage project in Egypt, while the Grootfontein solar power plant in South Africa was officially put into operation. Scatec has signed equity agreements with Norwegian state-owned investment fund Norfund and French power company EDF to jointly promote the Obelisk solar and energy storage project in Egypt. The project has a scale of 1.1GW/200MW, making it Scatec's largest renewable energy project to date. According to the agreement, Norfund will hold a 25% stake in the project holding company, EDF will hold a 20% stake in the operating company, and Scatec will continue to maintain a majority stake. The CEO of the company, Terje Pilskog, stated that the project will combine solar energy and battery storage to provide Egypt with stable and cost competitive electricity. At the beginning of 2025, Scatec has raised over $400 million in funding for the project and plans to introduce more partners to optimize the capital structure. In South Africa, Scatec's 273MW Grootfontein solar photovoltaic power station has officially started operation. This project is developed based on the procurement plan of South African renewable energy independent power producers and holds a 20-year power purchase agreement. Scatec completed project financing in 2023 and owns 51% of its shares, with the remaining shares held by local black economic revitalization partners and community trust funds. Alberto Gambakota, the head of Scatec Africa, pointed out that this project is the company's first power station in the Western Cape province and the first solar project to achieve commercial operation in this round of bidding, demonstrating Scatec's continuous investment and localization commitment in the South African market. Scatec stated that by collaborating with international organizations and local partners, the company aims to improve capital efficiency, create greater value, while maintaining operational control over projects. Previously, Norfund had supported Scatec's 130MW solar project in Colombia. In the South African market, Scatec has accumulated large-scale installed capacity and has won an additional 846MW in the latest round of bidding. This series of trends reflects Scatec's deepening layout and long-term strategy in the field of clean energy in Africa. Editor/Yang Beihua

• 2025.12.12 09:30
• [Investment of 4.13 billion yuan! Jinhu Tire's first European factory has settled in Opole]
• The small town of Opole, not far from the Czech border, is quietly undergoing a transformation in its industrial layout. On December 1st, Jinhu Tire officially announced that it will build its first production base in Europe here, marking an important step for this tire manufacturing enterprise on the path of globalization. This factory located in Opole, Poland, is planned to have a total investment of approximately RMB 4.13 billion. The project will be promoted in stages, with the first phase expected to produce 6 million passenger car tires annually, and the production scale will gradually expand according to market development. The new factory is not only geographically close to the heartland of the European automotive industry, but is also seen as a key entry point for Jinhu to deepen its penetration into the European market. The European market holds significant strategic importance for Jinhu Tire. In the first three quarters of 2025, Jinhu Tire achieved a cumulative operating revenue of RMB 18.1 billion, of which the European market contributed 27%. Of particular note is that the European market has maintained double-digit growth since 2025, demonstrating strong development potential. Europe is home to numerous high-end car manufacturers such as Mercedes Benz, BMW, Audi, Porsche, and Volkswagen. Jinhu Tire stated that setting up a factory in Poland is an important measure for the company to continue promoting its globalization strategy and focusing on high-yield markets. By achieving localized production and supply, Jinhu will further enhance its product and service competitiveness, strengthen its high-end brand value, and integrate more closely into the European automotive industry chain. With the implementation of the planning for the Polish factory, Jinhu Tire is entering the fast lane of the high-end manufacturing market in Europe with a more localized attitude, adding new footnotes to the industrial cooperation between China and Europe. Editor/Yang Beihua