Chinese firm invests £100m in automotive manufacturer
Chinese company Red Sun Group will invest more than £100m into a manufacturing company to produce zero-emissions taxis.
The Group’s investment will allow Cad Cam Automotive (CCA) to open a new facility in Coventry for the production of new commercial vehicles powered by the hybrid Ecotive Vehicle Platform, including the MetroCab.
CCA employs 220 of its 10,000 staff at its Holbrooks Lane plant, where it makes lightweight aluminium bodyshells for Jaguar Land Rover Special Vehicles Operations. The new plant, however, will be developed at a different site in the city.
Yang Shou Hai, president of Red Sun Group, said the investment – which follows a £3m investment in 2015 – will go towards the production of billions of pounds worth of cars and commercial vehicles.
“I have always been driven by applying new technologies to provide better products and reduce the impact on our environment.
“This is another strong step in Red Sun’s stated ambition to becoming China and the world’s pioneer in new technology, independent innovation and industrial models. This investment opportunity brings together highly skilled workers, and the application of market-leading technologies to provide highly efficient commercial vehicles with vastly reduced harmful exhausts.”
