Cosma Automotive (Chongqing) Co.,Ltd, the world's third largest supplier of auto parts, which has set up production facilities in Caijia Group of Chongqing Liangjiang New Area, is expected to achieve sales worth 500 million yuan by 2015.
Cosma's factory covers an area of 26,000 square meters and its assembly line produces auto parts for cars produced by Chang'an Ford Mazda Engine Co. Ltd and Chengdu FAW Volkswagen. Cosma opened its facilities in Chongqing in Liangjiang New Area in June 2011, and its first phase, covering an area of 115 acres, started operation in June the following year.
Cosma Chongqing said that the company is expected to achieve total sales of 200 million yuan in 2013 and 500 million yuan by the end of 2015, after the facilities of the second phase start operation. Cosma is also expected to generate 40 million yuan in taxes in 2015.
Cosma is an example of the development of China's automotive industry in the country's western region, and projects - including Chang'an Ford, Ford engines and also Fiat engines - are under construction in the new area, and projects - involving companies such as Honeywell and Hankook - have been completed and have started operation. This had led to the formation of an automobile industry cluster - involving famous vehicle enterprises and manufacturers of high-tech auto parts.
Statistics show that the annual automotive production of Liangjiang Area generated 136,809 million yuan in 2012, an increase of 19.6 percent compared the previous year, and the new area said that it aims to become the world's biggest global automotive production base. Officials said that Liangjiang International Automotive City will produce three million automobiles and over three million and twenty auto engines with an output value of 500 billion yuan in 2015.
Chongqing lies at the convergence of the Yangtze and Jialing rivers.