Founded in 1969 by Lu Guanqiu, Wanxiang Group started as an agricultural machinery repair factory in Hangzhou, Zhejiang. Over the years, it has grown into a multinational enterprise with over one hundred billion Yuan in revenue and is recognized as one of the 16 most competitive Chinese enterprises in the global market. Wanxiang Group is known for its expertise in automotive components manufacturing and has been selected as one of the 120 Pilot Enterprises by the State Council of China.