A Wenzhou-based company, CWB Automotive Electronics, is expanding into Europe by building a factory in Germany. This 30 million euro investment signifies their ambition to become a major player in the European automotive market.
CWB Automotive already supplies electronic components to leading car manufacturers like Volkswagen and BMW, and partners with giants like Bosch and Continental. By establishing a factory in Germany, they aim to deepen their integration with European carmakers and be at the forefront of the industry.
Germany's rich automotive history and presence of iconic brands like Mercedes-Benz make it a strategic location for CWB Automotive's new subsidiary, CWB Technology Germany GmbH. While the initial registered capital is modest, the company plans a significant investment for the factory's construction and equipment. [Source: www.ezhejiang.gov.cn]
