Chinese automaker Geely Automobile Holdings has agreed with the Hangzhou Bay New Area in Ningbo of East China’s Zhejiang province to set up a powertrain centre in the city.

With an investment of CNY2.5bn, the plant will be Geely’s largest powertrain unit in China.

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The plant is expected to come on stream by the end of 2015 with an annual output capacity of 700,000 units of turbocharged engines and 300,000 units of advanced high-performance transmissions, Xinhua News reported.

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