By Kate Yuan

(JW Insights) Jul 27 -- Chinese optical parts maker Lianchuang Electronic Technology (联创电子) intends to invest up to $10.9 million to build a factory in Mexico with a local partner to expand its business in North America, the company announced on July 25.

Lianchuang will join hands with Prodensa Servicios De Consultoria through its US-based unit LCE Optics, to construct the plant. It said that the collaboration will be based on Mexico's IMMEX Shelter Program, which means that LCE Optics does not need to register a company in Mexico as its local partner can provide necessary qualifications. The US unit will provide machinery, raw materials and technologies to build and run the plant.

Lianchuang was founded in 2006 in Nanchang of southeastern China's Jiangxi Province. It went listed on the Shenzhen Stock Exchange in December 2015. The company focuses on the new optical and optoelectronic industries including optical lenses and image modules, and touchscreen devices.

The Mexican plant will focus on emerging demand in North America, including intelligent devices, advanced driver-assistance systems, and smart homes, to increase the market share of optical components.

Lianchuang's revenue from optical parts used in cars surged more than five times last year from 2021, surpassing other segments in growth, according to its annual report.

The Chinese company counts several overseas premium automotive brands, including in North America, as its clients, an executive said on the Shenzhen bourse's investor platform in May.