Booming auto industry opens doors to European companies

Leoni AG, the leading European provider of cables and wiring systems to the automotive and other industries, Monday inaugurated its fourth factory in China.

The plant is part of the German firm's plan to double local wiring systems turnover to 400 million euros ($552 million), a company executive said.

Located in Langfang, Hebei province, the plant will supply wiring harnesses for Beijing Benz Automotive Co Ltd, the joint venture between Daimler AG and Chinese partner BAIC Group, which has a planned capacity of 200,000 cars per year.