Yangzhou Yapp Capitalizes 120 Million R&D Automotive Fuel Tank System

Yesterday, Yangzhou Yapu Auto Plastics Co., Ltd. officially changed its name to Yapu Auto Parts Co., Ltd., with a total investment of 120 million yuan. The world-leading automotive tank system R&D center also started construction at its headquarters in Yangzhou on the same day. Wang Xiaokang, vice president of China National Development and Investment Corporation, Chen Yinda, vice president of SAIC, Wang Rongping, standing member of the municipal party committee and executive deputy mayor attended the opening ceremony.

The newly unveiled Yap Auto Parts Co., Ltd. is China's largest manufacturer of automotive fuel systems, the only domestic exporter of passenger car fuel tanks, and the only exporter of fuel tank manufacturing technology. At present, Yapp has 8 branch factories across the country, forming five production bases in Yangzhou, Shanghai, Wuhan, Changchun, and Chongqing. The products occupy half of the domestic car plastic fuel tank market. Customers include Volkswagen, General Motors, Ford, Peugeot/Citroen, etc. The famous automobile group's joint venture in China is expected to have sales revenue of more than 1 billion yuan this year.

The goal of the R&D center started yesterday was to have a fully independent development capability within three years and to achieve simultaneous development with global customers' fuel tank systems, becoming an internationally competitive fuel tank system supplier. By 2010, the output will exceed 2.2 million and rank among the top five in the world.

According to the plan, Yap will set up a production plant in India next year and put it into production by the end of the year. In 2008, set up a factory in Thailand.