# Gold Cup Electric plans $110M expansion of NEV wire capacity in Hunan

Gold Cup Electric announced a CNY711 million ($110 million) plan to double its production capacity of magnet wires for new energy vehicles at its existing base in Hunan, adding 50,000 tons per year by June 2025.

- Type: Expansion
- Announced: 2021-07-29
- Where: Hunan province, China
- Value: $110.0M (711.0M CNY)
- Starts operating: Jun 2025
- Status: announced
- Capacity: 50,000 tons per year
- Products: NEV electromagnetic wires, flat electromagnetic wires
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Gold Cup Electric](https://endata.com/companies/21461.md)
- [Gold Cup Electric Electromagnetic Wire](https://endata.com/companies/56775.md) (partner)

## Sources

- [www2.yicaiglobal.com](https://www2.yicaiglobal.com/news/china-gold-cup-electric-jumps-to-over-four-year-high-on-usd110-million-plan-to-double-nev-wire-capacity), 2021-07-30: "Gold Cup will expand the production of NEV electromagnetic wires at its existing production base."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.