# Jinbei Electric to build new electromagnetic wire plant in Xiangtan

Jinbei Electric held a groundbreaking ceremony on 9 December 2021 for a new electromagnetic wire production facility in Xiangtan High-tech Zone, China. The total investment exceeds 1 billion yuan, with Phase II (2 billion yuan, 60 lines, 20,000 t/yr) to be completed by end of 2022 and Phase III (600 million yuan, 100 lines, 30,000 t/yr) by early 2025.

- Type: Expansion
- Announced: 2021-12-09
- Where: Xiangtan High-tech Zone, Xiangtan, China
- Value: $157.0M (1.00B CNY)
- Jobs: 300
- Starts operating: 2022
- Status: under construction
- Capacity: 50,000 tonnes per year (total); Phase II: 20,000 t/yr; Phase III: 30,000 t/yr
- Products: electromagnetic wire for new energy vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Jinbei Electric](https://endata.com/companies/52386.md)

## Sources

- [moment.rednet.cn](https://moment.rednet.cn/content/2021/12/10/10543573.html), 2021-12-10: "项目总投资超10亿元，新增产能5万吨/年"

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