ITT Corp sees potential business opportunities in China’s policies for the development of electric vehicles. The company announced that it will invest USD10 million in a braking technology production base and a research & development (R&D) center in Wuxi in Jiangsu province. Luca Savi, President of the company’s Motion Technologies Division, said the sum is just the initial investment and more funds will be made available as the project develops. ITT closely cooperates with BYD Co in the electric-vehicle business. “We will promote our charging-connector products and solutions in China and abroad because there is a continuing demand for electric autos,” said Denise Ramos, ITT’s CEO and President. Bill Taylor, President of ITT Interconnect Solutions, said the company will promote charging equipment in accordance with Chinese standards in the second quarter of this year, cooperating with BYD. The company has seen total annual revenue of USD2 billion over the past two years, 5% of which came from its businesses in China, according to Ramos.