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Jingu Group announced that it has been appointed as the designated supplier of lightweight, low-carbon wheels for a well-known automotive manufacturer’s European factory, marking their debut in the European market with this product. The company will utilize an original equipment manufacturer (OEM) model to develop and produce its branded Avatar low-carbon wheels specifically for the automaker’s new electric vehicle lineup assembled in Europe. Production is scheduled to commence with batch deliveries starting in 2027.
Prior to this project, Jingu had already integrated into the client’s global supply network, though specific details such as the project duration, sales figures, and the company’s identity remain confidential under non-disclosure agreements.
The company is recognized as a top-tier global supplier to major American car manufacturers like General Motors and Ford, as well as Europe’s Volkswagen Group, all of which operate joint venture manufacturing facilities in China, according to last year’s financial report.
The Avatar low-carbon wheels, developed by Jingu, match the weight of traditional aluminum alloy wheels but are approximately five to six times stronger and less expensive to manufacture. This innovation enables automakers to reduce costs and lower carbon emissions throughout their supply chains. In recent years, Jingu has secured numerous orders for this product from both domestic and international automakers, including becoming a designated supplier for a prominent U.S. plant of a major client in May. This project is expected to generate around USD 158 million over its first five years.
Shares of Jingu closed at CNY 10.34 (USD 1.45), up 1.6 percent today on the Shenzhen stock exchange, while the Shenzhen Component Index dropped 0.62 percent.
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