China's auto market has become a hot spot for investment by many steel companies.
On June 4, Yantai Baosteel Wheel Company laid a ground-breaking ceremony in Shandong Yantai Auto Parts Industrial Park. The first phase of the investment was 140 million yuan, and the annual output was 1.25 million wheels, and eventually 3 million passenger cars will be formed and 500,000 will be formed. Commercial vehicle steel wheel production capacity.
On June 21st, Hebei State-owned Assets Supervision and Administration Commission entrusted Hebei Iron and Steel Group with the 100% state-owned equity of Xuangong Machinery held by Hebei State-owned Assets Holdings Co., Ltd., and Xuangong Machinery is an important manufacturing enterprise in China's construction machinery industry.
On June 27, Shougang Jingxi Heavy Industry Fangshan Base shock absorber factory was completed and installation of equipment was started. The first phase will invest 2 billion yuan and will produce 4 million shock absorbers per year. This factory will supply domestic automobile manufacturers such as Geely and Beiqi Foton. Shock absorbers.
At the same time, Wuhan Iron & Steel also announced that it will enter the auto parts industry. It will jointly build a production base for auto parts with Chery Automobile. It is expected to start production in 2011.
Investors are far more than just domestic steel companies.
In May, Nippon Steel Corporation, a trading company under the Nippon Steel Corporation, is actively preparing for entry into the Chinese auto parts market and is preparing to invest 1.5 billion yen in auto parts processing in Shanghai.
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