# Innovation New Material and Gränges form JV for NEV aluminum alloy plant

Innovation New Material Technology and Gränges Group will form a joint venture to build a factory in Yunnan province, China, producing 320,000 tons of aluminum alloy materials annually for the new energy vehicle market. The plant is expected to generate CNY 10 billion in annual output and create 400 jobs.

- Type: Partnership
- Announced: 2023-04-05
- Where: Yunnan province, China
- Value: $43.5M (300.0M CNY)
- Jobs: 400
- Status: announced
- Capacity: 320,000 tons per year
- Products: aluminum alloy materials for NEV
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Innovation New Material Technology](https://endata.com/companies/69578.md)
- [Gränges](https://endata.com/companies/3224.md) (partner)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/china-innovation-new-material-sweden-grnges-team-up-on-nev-aluminum-alloy-plant), 2023-04-06: "The tie-up with Stockholm-based Gränges will help Innovation New Material enter the aluminum parts market for electric cars."
- [www2.yicaiglobal.com](https://www2.yicaiglobal.com/news/china-innovation-new-material-sweden-grnges-team-up-on-nev-aluminum-alloy-plant), 2023-04-06: "The facility, which will be located in southwestern Yunnan province, will have an output of 320,000 tons of aluminum alloy materials a year."

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