Short Torque

ZD gains approval for 880 million yuan plant

ZD became the third new energy carmaker this year to gain approval from the National Development and Reform Commission, China's top planning body, to build a plant. The plant, which was approved on March 1 and boasts investment of 880 million yuan ($128 million), will have the capacity to produce 40,000 electric cars annually. ZD is also among 11 companies admitted into the new energy segment since the first non-traditional automaker was approved last March. As a group, the 11 companies have a potential annual production capacity of 580,000 new energy vehicles once their production facilities are fully operational.

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