SKF and Fuyao Group Sign Major Investment Agreements in Anting

On July 15, the Shanghai Municipal Government held a certification and signing ceremony for the 41st batch of multinational regional headquarters and research centers, alongside a concentrated signing event for foreign investments. Among the companies involved are SKF and Fuyao, with a total investment amount nearing 1.7 billion yuan. SKF Group, established in 1907 in Sweden, specializes in bearings, seals, lubrication systems, and services, operating in both industrial and automotive sectors across 129 countries. SKF entered China in 1912 and currently has its headquarters in Shanghai, with 10 production bases, 14 regional sales offices, one technology center, and one Northeast Asia distribution center nationwide. To enhance its profitability and unlock the potential of its automotive business, SKF plans to invest over $100 million in Anting to establish its Asia-Pacific automotive headquarters, which will include the formation of SKF Automotive Technology (Shanghai) Co., Ltd. and SKF Automotive Bearings (Shanghai) Co., Ltd. Once the Asia-Pacific headquarters is completed, it is expected to drive more cutting-edge business sectors and innovative projects to Anting, attracting high-quality enterprises from both upstream and downstream of the industrial chain. Fuyao Glass Industry Group Co., Ltd., established in 1987 in Fuzhou, China, focuses on automotive safety glass and is a large multinational group recognized by global automotive manufacturers. As part of its strategic expansion into high-end automotive components, Fuyao plans to invest 693 million yuan in Anting for a high-end automotive aluminum alloy decorative components project. This project will be developed by Fuyao Group Shanghai Automotive Decorative Parts Co., Ltd., with a factory located in the Digital Automotive Park in Anting, covering an area of approximately 88,000 square meters and a total construction area of nearly 58,000 square meters. The project aims to produce high-precision aluminum alloy metal decorative products and is expected to commence operations in 2026.