Wanxiang Group (Hangzhou, China; privately held; website) announced it will build a massive R&D and manufacturing facility in Chongqing, China.

The plant, covering 16.5 acres in the Chongqing Airport Industrial Park, is budgeted at more than 600 million yuan (USD $85 million).

Groundbreaking is expected shortly, with the first phase completion scheduled for 2009.

Wanxiang is China's second-largest privately held company and the country's single largest manufacturer of auto parts and related subcomponents for OEMs, Tier 1, Tier 2, Tier 3 suppliers and aftermarket component manufacturers. It has established manufacturing and distribution operations in several countries, including Australia, North and South America, and Europe, including PowerDrive Europe (website).

In all, Wanxiang operates more than 50 businesses and subsidiaries, with a combined 23 million square feet of manufacturing floorspace.

The company manufactures and distributes a wide array of ball and roller bearings, including mounted units and wheel hub bearings, under the QC brand.

Beyond bearings, Wanxiang plants produce industrial and automotive-related hard parts and components including pumps, brakes, shocks, universal joints, ball joints, tie rods, driveshafts, and constant velocity joints.

The R&D portion of the Chongqing facility will apparently co-exist with Wanxiang's dedicated R&D Technical Center in Zhejiang.