Chang Aluminum plans to invest 350 million yuan in new energy vehicle structural parts and intelligent equipment projects

Chang Aluminum Co., Ltd. announced plans to invest 350 million yuan to build new structural parts and intelligent equipment manufacturing projects for new energy vehicles. The project will be undertaken by its wholly-owned subsidiary Shandong Xinheyuan, and the site is located in Ningyang County, Tai'an City, Shandong Province. The source of funds is self-owned and self-raised funds, and the project will be carried out in three phases. The first phase is expected to invest 142.1 million yuan and be completed within 18 months, with an estimated annual output of 60 million long-core battery shell products. The second phase is expected to invest 100 million yuan, also completed within 18 months, and is expected to produce 60 million sets of new energy new battery structural parts including long-core battery shells annually. The third phase is expected to invest 107.9 million yuan and be completed within 20 months, with an estimated annual output of 60 million sets of new energy new battery structural parts including long-core battery shells.