Future Mobility Corp signs a framework memo with Nanjing government in Nanjing, Jiangsu province on Jan 19, 2017.
Future Mobility Corp signed a framework memo with the local government of Nanjing Economic and Technological Development Zone in Jiangsu province on Thursday, and announced an investment plan of 11.6 billion ($1.68 billion) yuan for a plant with 300,000-unit annual production capacity.
The first phase of the FMC plant would start its trial production in 2019 to manufacture 150,000 units of mid-size premium fully electric smart sport utility vehicles. The product is set to launch in the Chinese market at a suggested price starting from 300,000 yuan.
“The FMC plant in Nanjing ought to be a high quality plant for our high quality premium positioned products. The plant will be constructed to fit into the ‘Made in China 2025’ strategy and the Industry 4.0 standard,” Carsten Breitfeld, CEO and co-founder of FMC, told a news conference.
When asked about the nation’s manufacturer permit, he said, “We are on schedule to obtain the approval of new energy vehicle production by 2019. It’s challenging, but we are quite confident and ready.”