Hong Kong-headquartered FDG Electric Vehicle Group will invest 5 billion yuan ($767.85 million) to construct a new energy automobile industrial park in Guian New Area in Southwest China's Guizhou province.

The investment agreement was inked by FDG and the administrative committee of Guian New Area on May 8, Xinhua reported.

The new energy automobile industrial park is located in the northern part of Guian High-end Equipment Manufacturing Industrial Park, covering an area of 86.7 hectares. The construction will start in the first half of this year, with the first vehicles projected to roll off the lot in December 2017.

Approximately 150,000 blade electric vehicles will be produced in the park every year. The annual output value of the finished cars is expected to exceed 30 billion yuan.

Cao Zhong, president of the FDG, said that the "green travel" idea has widespread appeal in Guizhou and the local government also strongly supports the electric vehicle industry, which made the province an ideal investment destination. Therefore the company brought its core technology and 210 patents in new energy vehicle manufacture to Guian New Area.

Guian New Area also plans to introduce big data into the new energy automobile industry and build a high-end and intelligent industrial cluster. The big data will be employed in management, battery charging systems and logistics, according to Zong Wen, vice-director of the administrative committee.

Edited by Owen Fishwick