China’s leading magnesium alloy and aluminum alloy manufacturer ZJWF has made new progress in its market development: Magnesium alloy and stamping products have obtained Tesla’s first-tier suppliers Faurecia China and Yanfeng Adient’s designated projects, providing further development for the company Develop a solid foundation for the development of the new energy vehicle market.
On June 29 and July 21, ZJWF respectively announced that its subsidiaries SHMM Magnesium Alloy Die Casting Co., Ltd. and WXXF Seiko Technology Co., Ltd. have respectively obtained Tesla's first-tier supplier project designation letter, with a total amount of more than 460 million yuan.
ZJWF stated that magnesium alloy products have always been the company’s strengths. As a leader in the deep processing of lightweight magnesium alloy materials, ZJWF's WFMR and WFWH magnesium industries have deep technical reserves and mature R&D teams, and each owns them at home and abroad. With strong industrial chain integration capabilities, WFMR has a market share of more than 65% in the North American market, and has long cooperated with Tesla's US factory. ZJWF's lightweight magnesium alloy business market development focuses on the proportion of large-tonnage products, such as instrument panel brackets, front-end module brackets, etc., focusing on the development of Chinese joint ventures and local automobile brands. In addition to Tesla, it also cooperates with new energy vehicles such as Weilai. Power brands reached a cooperation.
ZJWF stated that it will further expand the share of magnesium alloy products in the fields of transportation, national defense, and 5G construction. In the first quarter of this year, subsidiary WH Magnesium has successfully developed and mass-produced high-strength and high-conductivity magnesium alloy materials for 5G base stations to achieve sales. The amount increased by 30% year-on-year and the profit increased by nearly 70%.