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The output value of 41 industrial enterprises above designated size in the automobile industry in the Pinghu Economic Development Zone exceeded 10.43 billion yuan ($1.48 billion) from January to July, a year-on-year increase of 30.8 percent.

Yingzhi Thermal Management Technology (Jiaxing) Co Ltd recently started operating, becoming the first enterprise in the Pinghu Economic Development Zone to produce thermal management systems and its core components for new energy vehicles.

The company mainly produces electronic water pumps and oil pumps and multi-channel fluid valves, which are the core components of the thermal management of new energy vehicles.

The first 400W electronic water pump platform products will be loaded in small batches from the fourth quarter of this year, and about 500,000 sets will be supplied according to customer orders next year.

Starting from September, the company is expected to achieve an output value of 20 million yuan this year and will reach 600 million yuan after reaching full capacity.

The Pinghu Economic Development Zone has created a new energy automobile industry ecology, and its products include electric control units, inverters and drive motor assemblies.