Future Automobile City Jin'gang, an automotive electronics industrial park in the Lin-gang Special Area in Shanghai, was unveiled on Oct 20.

The new industrial park is located in the Lin-gang comprehensive zone which covers an area of about two square kilometers.

The park is presently home to several prominent automotive enterprises such as AVL List and EVK Motor.

During the inauguration ceremony, Jin'gang signed contracts with 20 major enterprises and professional cooperation institutions worth 3.42 billion yuan ($467.34 million) in total investments. These contracts are related to areas like artificial intelligence, automotive electronics, integrated circuits, space information, and biomedicine.

Jin'gang has set a goal of attracting 65 billion yuan in investments before the end of the 14th Five-Year Plan (2021-25) period.

Park officials have said that they will take steps to accelerate the construction of an intelligent automobile ecosystem in Lin-gang which would help Shanghai become a world-class automotive industry cluster.

The unveiling ceremony on Oct 20. [Photo/WeChat ID: shlgguanweihui]

Jin'gang signs contracts with 20 industry enterprises and institutions at the event. [Photo/WeChat ID: shlgguanweihui]

Six key enterprises sign agreements to set up operations in Jin'gang. [Photo/WeChat ID: shlgguanweihui]