On January 11, 2022, Chaoda Equipment had issued an announcement that, according to the company’s business development, It intends to build a new annual output of 200,000 units of battery box production project in Rugao City. The main body of the project is a wholly-owned subsidiary by the company, and the total investment of the project is planned to be no less than RMB 500 million($78.49million), including investment in land, plant and equipment, and production material reserves required for the initial implementation of the project; the project construction cycle is 2 years.
In response to investors’ questions, the company’s director said that the battery boxes produced by the company had not provided battery boxes to NIO and BAIC’s battery exchange vehicles, but the company has now provided battery box business to Geely’s battery exchange vehicles.
Chaoda Equipment (301186.SZ) is a leading supplier of automotive interior and exterior trim moulds in China. It is located in Rugao City, Jiangsu Province, on the eastern coast of China. It is one of the major gathering places for the automotive industry in China. It has a registered capital of $8.56million. Now it has accumulated more than RMB 500 million($78.49million) in fixed assets. Chaoda Equipment Company Limited was listed on the GEM Board of the Shenzhen Stock Exchange on December 23, 2021.
Since its establishment, the company has insisted on continuous innovation in products and technologies, possessing original innovation capability and independent intellectual property rights, and possessing strong industrialisation capability of R&D achievements, and has now achieved about 50% or more of its products being exported on a large scale. The company holds a total of 128 patents, including 63 invention patents and 65 utility model patents so far.