Huazhong In-Vehicle

Huazhong In-Vehicle's subsidiary Ningbo Huazhong Plastic Products signed a 5-year supply agreement with a global EV maker for new energy vehicle products. The contract is valued at about CNY 310 million over its life. To fulfill the contract, Huazhong will invest about $8.5 million to build a production base in Monterrey, Mexico, expected to start production in September 2023.