Ruihu Mould and Chery Technology jointly expand the automotive lightweight market

On December 29, Ruihu Mould issued an announcement that it intends to jointly invest in new energy vehicles with Wuhu Chery Technology Co., Ltd. (hereinafter referred to as “Chery Technology”) and Wuhu Yongda Technology Co., Ltd. (hereinafter referred to as “Yongda Technology”) Component projects, and through locking business orders with existing customers, etc., promote the project to achieve full production as soon as possible after the project is put into production. Because Chery Technology is a related party of the company, this foreign investment constitutes a related transaction.

According to reports, the project is planned to be invested and constructed in the Wuhu Economic and Technological Development Zone in Anhui Province. The construction content is mainly for the development, design and manufacturing of precision aluminum alloy die castings for energy-saving and new energy vehicles. After full production, it will have an annual output of 500,000 sets of large-scale and lightweight vehicles. Parts production capacity. At the same time, the three parties will jointly fund the establishment of Wuhu Ruihu Automobile Lightweight Technology Co., Ltd. (tentative name) with a registered capital of 100 million yuan, of which Ruihu Mould holds 45%, Chery Technology holds 35%, and Yongda Technology holds 20 %.

Ruihu Mould stated that lightweight is an important direction for the future development of the automotive industry, and precision aluminum alloys are one of the important paths for automotive lightweighting. This project is the common demand of all investors. It has synergistic advantages in terms of technology, technology, equipment and industrialization, and all have the ability to perform contracts, which can promote business development. At the same time, the company will deepen cooperation with existing customers, reach an agreement with some existing customers as soon as possible in the early stage of the construction of this project, lock business orders, and promote the project to achieve full production as soon as possible after the project is put into production.

According to data, Ruihu Mould’s current customers include Ford, Renault, Peugeot Citroen, Porsche, Audi, Dongfeng Motor, Guangzhou Automobile Group, Chery Automobile, BAIC Group, Great Wall Motor, Geely Automobile and other well-known brands. The company has been rated as “Key Key Enterprise of China’s Automobile Panel Moulds” and “Excellent Mould Supplier” by China Die & Mould Industry Association, and has a high brand awareness in the industry.