Lenovo to invest $792m in new mobile plant in Wuhan, China
updated 11:33 am EDT, Mon May 7, 2012
R&D, production and sales plant due to open in October, 2013
Lenovo will build a new production, R&D, and sales facility in Wuhan, China, the PC maker announced on Monday. Called the Lenovo (Wuhan) Industrial Base, the facility will focus on smartphones and tablets while employing several thousand employees. The company will invest about RMB5 billion ($792) over the next five years, with a scheduled opening date of October, 2013.
The facility will also strengthen Lenovo's supply chain in the Chinese and global markets. It's expected the facility will also create some 10,000 jobs in the coming years in related businesses, suppliers, and builders. Once it launches, the industrial base is estimated to reach sales revenue of RMB10 billion ($1.58 billion) in 2014, and increase to RMB50 billion (about $7.9 billion) within five years.
