Wanxiang to set up energy fusion hub in Zhejiang

When pioneering Chinese billionaire Lu Guanqiu passed away last year, he left behind an unfulfilled dream of making cars under the Wanxiang Group umbrella, his multibillion dollar automotive group.

Now, that dream has become an even bigger blueprint as his son and successor Lu Weiding has drawn up plans to invest more than 200 billion yuan ($29 billion) on a 10 square-kilometer innovative energy fusion hub. The hub, according to Lu, is not just about factories, but rather about an innovative platform that seeks to integrate new energy, intelligent manufacturing and smart hubs.

With an eye on the future, Lu aims to build the hub as a global innovation one that can drive the development of the Greater Bay Area in Zhejiang province by 2035.