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Germany's Continental planning new plant in Tianjin

Xinhua, May 20, 2016 Adjust font size:

German auto parts supplier Continental AG plans to invest 80 million U.S. dollars in a new factory in Tianjin, authorities of the municipality said on Friday.

The factory, scheduled to start operating in 2017, will be located in Tianjin Economic-Technological Development Area (TEDA), according to the area's management committee.

Continental launched a business in TEDA in 2007 producing automotive electronic products for global clients. It expects to be able to produce a greater range of products in China with the new plant.

TEDA has become a major car producing base in China. FAW-Volkswagen started construction of its north China production base there on Wednesday, with an investment of 19.5 billion yuan (3 billion U.S. dollars). Endi