Zhejiang Emerges as a Key National Hub for New Energy Vehicles with "Three-Core" Industrial Cluster

Leveraging its dynamic private economy and well-established industrial chains, Zhejiang has developed an automotive industry cluster characterized by “coastal concentration, core-city leadership, and tiered differentiation.” The three core cities—Ningbo, Taizhou, and Hangzhou—are advancing in synergy: Ningbo leads with over 4,000 suppliers, hosting automakers such as Geely and SAIC Volkswagen, and attracting major component manufacturers like Tuopu Group and Joyson Electronic; Wenzhou also boasts more than 4,000 suppliers, specializing in automotive electronics and precision manufacturing, with small and medium-sized enterprises excelling through focused expertise; Hangzhou stands out in intelligent technologies and software, home to vehicle makers including Leapmotor and Changan Ford, while companies like ZF Friedrichshafen and Hesai bolster its capabilities in intelligent perception. By 2026, Zhejiang’s planned annual vehicle production capacity will exceed 4.64 million units, with Geely accounting for nearly half of this output. The province is now transitioning from traditional “manufacturing” to a dual-driven model of “intelligent technology + manufacturing,” accelerating its rise as a national hub for the new energy vehicle industry.