China is the world's largest car market, accounting for around 30 percent of global passenger-vehicle sales. Its imminent ban on fossil fuel cars will affect the entire automobile ecosystem, from design and materials to power and technology.
The list of China-based electric vehicle (EV) makers has continued to grow and gain momentum in recent years.
Atlanta-based Novelis, a leading producer of rolled aluminum and aluminum recycling, pledged that it will continue its partnership with China and expand investment in China's automotive industry, especially in the electric vehicle sector.
Starting with a $100 million investment from scratch, Novelis' Changzhou plant now boasts an annual production capacity of 120,000 tons of heat-treated sheet aluminum and meets the rapidly growing demand from conventional and new generation automakers for rolled aluminum for use in lighter, more fuel-efficient vehicles.
This year, Novelis expanded its portfolio of automotive customers into the EV sector by adding Shanghai-based electric vehicle startup NIO to its client pool, which already includes Ford, Audi and Jaguar. According to the agreement, NIO's electric SUV ES8 models will adopt Novelis' aluminum alloys to create a wide range of structural vehicle components and parts.
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