The 2022 World Manufacturing Convention kicked off on Tuesday in Hefei, Anhui province.

Themed "Manufacturing for a better world", the four-day event highlights the latest products, technologies and applications in the manufacturing sector.

More than 640 enterprises from around the world are exhibiting their latest and advanced products in the exhibition venue of 59,000 square meters, and 568 projects with a total investment of 367.7 billion yuan ($52.9 billion) were contracted by enterprises and the Anhui local government.

New energy vehicle makers, including Volkswagen and BYD, promised to ramp up innovation and production in Anhui.

"In China, it's impressive to see the pace of innovation in the industry. Technology in electrification will drive our future in the automotive industry in the coming years," said Stefan Mecha, president of Volkswagen Passenger Cars Brand for China.

Talking about the company's development strategy, he said "it's something in China for China, and also from China to the world.

Volkswagen started a joint venture, Volkswagen Anhui, with the Hefei-based automobile brand JAC in 2017, and will build it into a hub for NEV innovation and digitization, Mecha said.

With the accelerating pace of electric and smart technologies, the automobile industry has been experiencing the most tremendous changes ever in terms of supply chain and value chain in recent years, said Wang Chuanfu, chairman of BYD.

A native of Anhui, Wang said he was pleased to see that Anhui has an intact supply chain for electric vehicles so that BYD can reinforce its presence in the province.