# 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.

- Type: Expansion
- Announced: 2023-11-10
- Where: Ningbo, China
- Value: $138.0M (1.00B CNY)
- Status: announced
- Capacity: 3 million sets per year
- Products: magnesium alloy parts, aluminum alloy parts, die-casting molds
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Sinyuan Zm Technology](https://endata.com/companies/73713.md)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/chinas-sinyuan-soars-on-usd138-million-plan-to-expand-capacity-of-magnesium-alloy-parts-for-nevs), 2023-11-13: "Sinyuan [SHE: 301398] was trading up 8.9 percent at CNY57.77 (USD7.92) as of 1.45 p.m. in Shenzhen today."

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