Punjab, April 23 -- SHENZHEN, China, April 23, 2026 /PRNewswire/ -Inovance Technology (SZSE: 300124) held a groundbreaking ceremony for its new R&D and manufacturing base in the Jinpu New Area of Dalian, Liaoning Province. The facility is dedicated to the development and production of high-voltage permanent magnet synchronous motors (PMSMs) and represents a total investment of RMB 2 billion (approx. USD 280 million). Covering 174,500 m², the base will be built in two phases, with Phase 1 accounting for approximately 160,000 m² of building area including production, R&D, and administrative facilities. Construction is expected to be completed by the end of 2027.At full capacity, the facility will produce 10,000 PMSM sets annually, c...