Wells Advanced Materials (Shanghai) Co, a foreign-funded R&D center in Jiading District, was among the 41st batch of units to be verified as multinational businesses' regional headquarters or R&D centers in Shanghai.

Shanghai Mayor Gong Zheng presented certificates to 30 regional offices of multinational firms and 15 foreign-funded R&D centers, as well as witnessing the on-site signing of 33 foreign investment projects.

The signing involved three projects in Jiading: SKF Automotive Asia-Pacific Headquarters, Munsingwear and Fuyao Group Shanghai Aluminum Parts, with a total investment of more than US$310 million and industries ranging from autos to fashion consumer products.

Wells Advanced Materials (Shanghai) Co has concentrated on the Research and development of high-performance composite materials. Since starting the R&D headquarters project in 2021, the firm has focused on wind power blades, high-performance composite materials, and electronic and electrical insulation packaging materials.

Over US$100 million was invested in the SKF Automotive Asia-Pacific Headquarters project. The world-renowned producer of bearings, seals and lubrication systems has registered and formed two automotive technology and bearing firms.

Fuyao Group will invest 693 million yuan to create a luxury car aluminum alloy trim production facility, per its strategic development strategy. The project spans 88,162 square meters and will concentrate on the manufacture of high-precision aluminum alloy metal goods and trim items.