Eontec to cooperate with CATL on magnesium alloy materials project

On 26 August, Eontec announced that it signed the magnesium alloy materials project four-party cooperation investment framework agreement with Contemporary Amperex Technology Co.Asian Metal Copyright28 billion in total in the project based on the equity ratio of 30%, 25%, 25% and 20%.Asian Metal Copyright, Limited (CATL), Sanxiang Advanced Materials Co.Asian Metal Copyright .Asian Metal Copyright, Ltd.Asian Metal Copyright According to Eontec's announcement, the cooperation will give full play to respective advantages and specialties, establish a powerful combination, create a first-class magnesium alloy producer by taking advantage of CATL's rich new-energy vehicle related industry resources and excellent supporting environment in local market, develop and perfect new-energy vehicle related industry supporting chain, expand its layout in new-energy vehicle market, continuously launch high-grade, precision and advanced new-energy vehicle parts that satisfy customers' need, further increase its market shares in new-energy vehicle products market and improve its comprehensive competitiveness.Asian Metal Copyright and Jiangsu Wanshun Mechanical and Electric Group Co.Asian Metal CopyrightOn 26 August, Eontec announced that it signed the magnesium alloy materials project four-party cooperation investment framework agreement with Contemporary Amperex Technology Co.Asian Metal Copyright, Ltd.Asian Metal Copyright The investment for the first phase project is RMB500 million USD69.Asian Metal Copyright about the construction of magnesium alloy materials project.Asian Metal Copyright and Jiangsu Wanshun Mechanical and Electric Group Co.Asian Metal Copyright The four parties will invest RMB2 billion (USD0.Asian Metal Copyright The four parties will invest RMB2 billion USD0.Asian Metal Copyright28 billion) in total in the project based on the equity ratio of 30%, 25%, 25% and 20%.Asian Metal Copyright The investment for the first phase project is RMB500 million USD69.Asian Metal Copyright The investment for the first phase project is RMB500 million (USD69.Asian Metal Copyright .Asian Metal Copyright84 million) in terms of cash.

According to Eontec's announcement, the cooperation will give full play to respective advantages and specialties, establish a powerful combination, create a first-class magnesium alloy producer by taking advantage of CATL's rich new-energy vehicle related industry resources and excellent supporting environment in local market, develop and perfect new-energy vehicle related industry supporting chain, expand its layout in new-energy vehicle market, continuously launch high-grade, precision and advanced new-energy vehicle parts that satisfy customers' need, further increase its market shares in new-energy vehicle products market and improve its comprehensive competitiveness.

.Asian Metal Copyright, Limited CATL, Sanxiang Advanced Materials CoAsian Metal Copyright