Brief: Huazhong In Vehicle Says Unit Reached Supply Agreement

Huazhong In Vehicle Holdings

05/06/2023 10:35

June 5 (Reuters) - Huazhong In Vehicle Holdings Co Ltd
 6830.HK :
    * HUAZHONG IN VEHICLE HOLDINGS CO LTD - UNIT REACHED A
SUPPLY
AGREEMENT WITH A GLOBALLY RENOWNED ELECTRIC AUTOMAKER
    * HUAZHONG IN VEHICLE - PURSUANT TO AGREEMENT, SUPPLY CYCLE
OF
PRODUCTS IS 5 YEARS, AND TOTAL AMOUNT OF EQUIPMENT IS EXPECTED
TO REACH 4.80 MILLION VEHICLES
    * HUAZHONG IN VEHICLE HOLDINGS - AGREEMENT TO PROVIDE
"BATTERY,
ELECTRIC MACHINERY AND ELECTRIC CONTROL SYSTEM"-RELATED PRODUCTS
    * HUAZHONG IN VEHICLE HOLDINGS CO LTD - SALES FROM PRODUCTS
IN
WHOLE LIFE CYCLE ARE ESTIMATED TO BE APPROXIMATELY RMB310
MILLION
    * HUAZHONG IN VEHICLE HOLDINGS - AGREEMENT TO PROVIDE
MACHINERY
FOR COMPANY'S NEW ENERGY VEHICLES LAUNCHING SUCCESSIVELY FROM
2023 TO 2028
    * HUAZHONG IN VEHICLE - WILL INVEST APPROXIMATELY US$8.50
MILLION
TO ESTABLISH A PRODUCTION BASE IN MONTERREY, MEXICO TO PRODUCE
RELATED PRODUCTS
    * HUAZHONG IN VEHICLE HOLDINGS - EXPECTED THAT MEXICO
FACTORY OF
COMPANY WILL OFFICIALLY COMMENCE OPERATION IN SEPTEMBER 2023
    * HUAZHONG IN VEHICLE - WILL ACTIVELY SEEK COOPERATION
OPPORTUNITIES WITH MORE DOMESTIC AND INTERNATIONAL NEW ENERGY
AUTOMAKERS TO EXPAND MARKET SHARE

Source text for Eikon:  ID:nHKS93C5Kf 
Further company coverage:  6830.HK 

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