Haier Smart Home greenlights 3m washing machine project

Haier Smart Home (SSE:600690) announced a major investment in its washing machine production capabilities with a planned CNY 1.784 billion facility in the China-Shanghai Economic Cooperation Demonstration Zone, aiming for an annual output of 3 million units. The investment, approved by Haier's board, underscores the company's commitment to expanding its global footprint and optimizing its supply chain. The new facility will produce a mix of drum washing machines and dryers, primarily serving the Chinese market while also targeting exports.