Inovance Technology Builds High-Power Electric Motor Development Facility Worth USD 280 Million to Support Decarbonisation of Heavy Industry
Shenzhen, China, (ANTARA/PRNewswire) - Inovance Technology (SZSE: 300124) held a groundbreaking ceremony for a new research and manufacturing facility in Jinpu New Area, Dalian. The facility will develop and produce high-voltage permanent magnet synchronous motors (PMSMs) with a total investment of RMB 2 billion (approximately USD 280 million).
Covering an area of 174,500 square metres, the project will be constructed in two phases. The first phase includes a building area of around 160,000 square metres, encompassing production, research, and administrative facilities. Construction is targeted to be completed by the end of 2027.
Once fully operational, the facility is expected to produce up to 10,000 PMSM units per year, with power ranges of 30–3,000 kW, voltages from 380 V to 10 kV, and torque of 3–200 kN•m. Its annual production value is estimated to reach approximately RMB 5 billion (equivalent to USD 700 million). PMSMs meet the needs of heavy industries, such as mining, ports, power generation, and metallurgy.
“The Dalian project represents our first major investment in northern China and a key step in expanding high-power motor capabilities in the global market,” said Zhu Xingming, Founder & Chairman of Inovance. “Supported by port infrastructure and a pool of engineering expertise, Dalian is a strategic location to serve customers in mining, ports, and other heavy industries requiring high-efficiency drive systems.”
According to the International Energy Agency, electric motor systems account for more than 40% of global electricity consumption. PMSM technology can reduce energy losses by 15–30% compared to conventional induction motors, making it an important solution in industrial decarbonisation. All buildings in the facility are also designed with rooftop solar panels and energy storage systems, aligning with national-level Smart Factory and Green Factory certification targets.