Scania held the inauguration of its industrial hub in Rugao of East China's Jiangsu province on Wednesday, marking the Swedish truck maker's first fully owned factory in China.

Covering about 800,000 square meters, the new facility entails a 2 billion euros ($2.3 billion) investment, the company's largest overseas investment in 60 years. It is Scania's third industrial production base besides Sweden and Brazil.

The factory will initially employ 3,000 workers and will reach a production of 50,000 trucks, which will nearly double the vehicles produced in its Brazilian plant last year. Throughout 2024, Scania delivered about 100,000 trucks.