Recently, Guangdong Hongtu Wuhan Diecasting Co., Ltd. (hereinafter referred to as "Wuhan Hongtu") has made an additional investment of 588 million yuan to initiate the "Large-scale Lightweight Automotive Parts Intelligent Manufacturing Project" (Phase II), with the aim of expanding production capacity and enhancing competitiveness.

Since 2013, Wuhan Hongtu has been committed to the research, development, and production of aluminum alloy diecasting parts. In recent years, in accordance with the development of new energy vehicles, it has facilitated technological innovation and industrial upgrading, and established a highly automated diecasting island, resulting in an approximate 12% increase in production efficiency. General Manager Zhang Bai indicated that the trends of integration and lightweighting in NEV have presented opportunities for large-sized and high-vacuum diecasting parts. It is anticipated that Wuhan Hongtu's revenue will grow by over 10% in 2024, with products for the "Battery, Motor, Electric Control System" systems accounting for more than 30% of its production capacity. The second-phase is projected to be completed in 2025. By then, the annual capacity will reach 30,000 tons, thereby alleviating production capacity pressure.