The Shanghai Hugong Auto-electric Co ended up with sales of around 50 million yuan for 2013, according to one of its directors, who said the key to their success was innovation and leading technology.
Hugong was founded in 1997 as a simple manufacturer of relays for cars, but, over the last decade, has come up with many new products every year, with the focus on technological innovation, winning more than 40 national and municipal awards in the process.
It has also more than 60 patents and expanded into five important automotive parts, such as electrical boxes and relay switches, for 200 different models, supplying nearly 30 prominent automobile manufacturers, a sharp rise from the mere seven in the early days
Company officials point to their R&D expenditure, which have risen every year. It had established its electrical terminal department by the end of 2011, and has worked for two years on intelligent models to cut cost by 15 percent.
Hugong Auto-electric Co supplies companies like Volkswagen and BAIC, and is looking for an annual output valued at 50 million yuan.
Its R&D center in the town of Anting, in Shanghai’s Jiading district, covers 500 square meters and cost 20 million yuan and can handle complete testing on automotive relays, locks, switches and electronic controls.
Edited by Lin Hong and Roger Bradshaw