An advanced digital workshop at Zhejiang Founder Motor Co Ltd. [Photo/WeChat account: ls-mnews]

The foundation ceremony for an advanced new energy motor plant, funded by CRRC Urban Traffic Co Ltd and Zhejiang Founder Motor Co Ltd, took place on June 12 – with expectations that it will be a pathfinder for the introduction and development of intelligent production.

The factory – to be located in the city of Lishui in East China's Zhejiang province – will cover about 8 hectares and cost 1.2 billion yuan ($188.28 million).

It is expected to generate annual revenue of 2.4 billion yuan and pay taxes of 72 million yuan after completion.

The project reportedly aims to build a so-called future factory, with an integrated production platform for the new energy motor supply chain. By integrating upstream and downstream operations, the facility is expected to enhance the business resources and brand values of enterprises within its industrial ecosystem.

The term future factory refers to a modern plant that employs digital technologies to achieve digital design, intelligent production, intelligent management, collaborative manufacturing, green manufacturing and safe control, among other things.

Zhejiang is understood to have rolled out plans to develop future factories in its region. The province plans to add 10 future factories every year – starting from 2020 – to lead the transformation and upgrading of the region's manufacturing industry.