Guangdong ZhaoQing Power Foundry (Holding) Co., Ltd. held a groundbreaking ceremony for its “Core parts production base for automobile and new energy auto automobile” in Guangdong Zhaoqing (Dawang) National High-tech Zone on Aug. 3.
The total investment is estimated at 1 billion RMB, with a construction area of 117,000 square meters. The project is expected to be completed in five years and the first phase is scheduled to put into trial production in January 2019. Upon completion and acceptance in 2021, it will build an investment forming production base of automobile and new energy automobile core parts with annual capacity of 52,000 tons, which are digital, intelligent and green. The annual turnover will reach 1.5 billion RMB and generate 130 million of tax revenue.
Based on the gravity casting and low-pressure casting technologies, the company will further focus on the research of lightweight, high-strength aluminum auto parts including engine cylinder head, chassis and rear bracket which have excellent comprehensive mechanical property, as well as core parts in new energy automobile.