Chinese Business News reported that Volkswagen AG has reached agreement with partner FAW Group to increase its holding in their car venture to 49% from 40%. The newspaper said without citing any specific source FAW holding in the venture has now been cut down to 51% from 60%. Volkswagen spokesman in China could not be reached immediately for comment. Foreign automakers are required to team up with a local…

Volvo Cars said it was on track for a fifth consecutive year of record vehicle sales despite rising trade tensions after second-quarter profit rose on strong demand for its SUVs. Operating profit increased 29 percent to 4.2 billion Swedish crowns ($474 million) in the second quarter on 66 billion crowns in revenue, up by more than a quarter from the same period last year. Volvo also reported that its…

Wuhan Iron and Steel (Group) Corporation has recently developed world's hardest steel for automobile body, with high strength of 1500MPa, ending the long-term imports dependent situation in China. Source - steelhome.cn/en

The Weir Group has officially opened its new foundry in Xuzhou, China. The foundry, which is part of Weir’s ESCO global foundry network, expands capacity for the manufacture of ESCO ground engaging tools (GET). The opening ceremony, hosted by Weir’s CEO Jon Stanton, was attended by a senior leadership team from Xuzhou Hi-Tech Industry Zone and other members of Weir and its ESCO division from China and…

It is reported that Xinxing Ductile Iron Pipe Group Xinjiang Company would start construction of its 3 million tonnes per year special steel project with the total investment of 9.01 billion tonnes including 4 0.2 million tonnes per year converters, 4 0.2 million tonnes per year shaft furnaces and 2 1.8 million tonnes per year sinters etc. As per report, the project has been submitted to the local…

Zeekr has revealed that it is using the ‘gigapress’ die-casting technique first implemented by Tesla to cut production costs of the all-electric 009 MPV. In the case of the 009, the Chinese car manufacturer is using big aluminum die casts to make a large rear underbody section of the vehicle, measuring 1.4 meters long and 1.6 meters wide. This alone has allowed it to reduce the number of welding points by…

It is a further step in voestalpine AG’s consistent strategy of internationalization: Today in Shenyang (China) a new plant in the Metal Forming Division was opened which will produce ultra-high strength body-in-white parts for premium automotive customers. A total of around EUR 25 million has been invested (to date) in constructing the plant which will employ a staff of around 70 during the first phase.…

Recyclers and metals producers around the world sometimes struggle to convince regulators that they are a net positive for the environment. Recycling is an exercise in resource conservation, but that has not spared the industry from far-reaching environmental regulatory scrutiny, according to members of a panel discussion at the 2015 Annual Convention of the China Nonferrous Metals Industry Association…

The Beijing to Vancouver railroad construction would cost over $35 billion According to Russian and Chinese state news, there may be plans to build a high-speed railway from China to Canada — a train ride of approximately two days when travelled at 350 kilometres an hour. The route, which would stretch from Beijing to Vancouver, would foster trade and travel across several nations. It would span 13,000…

The Chinese automotive manufacturer, Geely, has launched its first factory in Egypt, Africa. In collaboration with Auto Mobility (Geely Egypt), the firm debuted its first industrial venture in MENA in 6th October City. According to Ahram Online, the new plant aligns with Egypt’s strategic goal of becoming a regional hub for vehicle manufacturing. The move is part of the national strategy started in 2022 for…