Jiangsu Jingmei Zhichuang Manufacturing Co., Ltd. has entered into a cooperation agreement with the government of Zhaoling District in Luohe, Henan to develop a magnesium alloy wheel smart manufacturing park project.

With a total investment of RMB5.68 billion (USD785 million), the project will build production lines with annual capacities of 1 million pieces of wrought magnesium alloy wheel and 5 million pieces of precision structural components, integrating R&D, product design and manufacturing of high-end magnesium alloy wheel which will be supplied to top automakers such as BYD, Mercedes-Benz, BMW and Tesla.