Taotao Auto Industry announced that Yongkang Taotao Technology Co., Ltd., a wholly-owned subsidiary of the company, plans to use no more than RMB 600 million of its own capital or self-financing to invest in the construction of an “industrialization project with an annual output of 10,000 golf cars and key vehicle components” in Yongkang, Zhejiang. The total land area of the project is about 80 acres, and the total planned construction area is about 130,000 square meters. It mainly constructs production workshops and supporting facilities for electric golf carts and spare parts as well as key components. The construction cycle of the project is no more than 3 years, and the construction is carried out in stages. In the end, the actual construction situation shall prevail. The source of funding for the project is Taotao Technology's own funds or self-financing, and will be invested in instalments according to the specific needs of the project.

Taotao Auto Industry announced that Yongkang Taotao Technology Co., Ltd., a wholly-owned subsidiary of the company, plans to use no more than RMB 600 million of its own capital or self-financing to invest in the construction of an “industrialization project with an annual output of 10,000 golf cars and key vehicle components” in Yongkang, Zhejiang. The total land area of the project is about 80 acres, and the total planned construction area is about 130,000 square meters. It mainly constructs production workshops and supporting facilities for electric golf carts and spare parts as well as key components. The construction cycle of the project is no more than 3 years, and the construction is carried out in stages. In the end, the actual construction situation shall prevail. The source of funding for the project is Taotao Technology's own funds or self-financing, and will be invested in instalments according to the specific needs of the project.