Wencan Group secured two contracts worth up to CNY 4.1 billion (USD 570 million) from a Chinese EV maker and a battery manufacturer. The contracts cover aluminum die-cast body parts and battery cases, with deliveries starting in Q3 and Q4 2024 respectively.
Wencan's wholly-owned subsidiary Tianjin Xiongbang Die Casting was selected by a leading Chinese new energy vehicle manufacturer to supply large integrated aluminum die-cast front cabin and rear floor parts for two new production platforms. The total sales amount over the four-year lifecycle is estimated at RMB 2.3-2.6 billion, with mass production expected to start in Q3 2024.
Nio and die-casting parts supplier Wencan Group signed a five-year strategic cooperation framework agreement on March 26, 2023. The partnership covers supply, low carbon, digitalization, and globalization, with Wencan aiming to supply products near Nio's Hefei plants by 2025.