The reporter learned from WISCO a few days ago that Wuhan Iron & Steel Co., Ltd. and Chery have jointly invested in the construction of a production base for auto parts and it is expected to start production next year.
It is understood that the production base mainly produces automotive stampings. Wuhan Iron and Steel participated in the participation model, but the specific investment amount and shares held were not announced.
The production of automobile plates by Wuhan Iron and Steel ranks second in the domestic market share, second only to Baosteel.
With the expansion of the automotive market, several steel mills have already turned their minds into action. Just last Friday, Shougang officially launched its auto parts factory in Fangshan. Baosteel also cooperated with Guangzhou Automobile Group to participate in the automobile production field.
Wuhan Iron and Steel also said that in addition to auto parts, Wuhan Iron and Steel will invest in the construction of auto OEMs in the future or as the case may be.
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