Gold Cup Electric

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.

Gold Cup Electric will establish a joint venture with PT Bukaka Teknik Utama Tbk to build a factory in Indonesia for products supplying Indonesia's national electric power company. Total investment is 560 billion Indonesian rupiahs (USD 42 million), with Gold Cup contributing 55%.