A billions yuan worth new energy vehicle industrial chain is taking shape in Laixi city under the jurisdiction of Qingdao, centering around the production base of new energy vehicle producer BAIC BJEV in Jiangshan town.

Established in 2015, the production base experienced rapid growth and achieved record monthly capacity of 15,000 vehicles in November.

It is estimated that it will realize a 6 billion yuan output value this year with a capacity of 80,000 vehicles. The predicted annual capacity will reach 150,000 vehicles by the end of 2018, and 350,000 vehicles by 2020.

A power battery supplier, Qingdao Guoxuan Co increased its capacity 10 folds to match the Qingdao base's capacity improvement. Guoxuan’s yearly output value is estimated to be at 330 million yuan in 2017. The company plans to add more capacity with a second phase project going into operation in 2018.

Taihe Xingye Co generates output value of 2 million yuan monthly by producing stamping parts for the production base, said Wang Chenchen, the production management director of the company.

As of late, a total of 12 auto part manufacturers have moved to Jiangshan town, attracted by the establishment of the BJEV production base. And the number of auto part producers and other new energy vehicle-related businesses is expected to grow to more than 100 by 2020.

This year he town's government introduced 15 projects to offer services including business consulting, marketing, distribution channel management, and logistics to meet the increasing demands of the production base as it undergoes expansion program to increase capacity even further.