Sinyuan Zm Technology plans CNY 1B plant for magnesium alloy parts for NEVs

Sinyuan Zm Technology announced a plan to invest CNY 1 billion (USD 138 million) to build a plant in Ningbo, China, with an annual capacity of 3 million sets of magnesium alloy and aluminum alloy precision mold parts for new energy vehicles. The first phase, costing CNY 700 million, is expected to be completed within 36 months after signing the land use agreement.

“Sinyuan [SHE: 301398] was trading up 8.9 percent at CNY57.77 (USD7.92) as of 1.45 p.m. in Shenzhen today.”yicaiglobal.com

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• yicaiglobal.comChina’s Sinyuan Soars on USD138 Million Plan to Expand Capacity of Magnesium Alloy Parts for NEVsTang ShihuaNov 13, 2023

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