Shanghai (Gasgoo)- On December 18, Foryou Corporation (brand name "ADAYO"), a Chinese supplier of automotive electronics and parts, signed an agreement with the Management Committee of Changxing Economic and Technological Development Zone, intending to invest in the "Automotive Lightweight Precision Die-Casting Components Project".
In accordance with the agreement, Foryou Corporation will establish a subsidiary in Changxing Economic and Technological Development Zone, Zhejiang province. This subsidiary will take charge of the investment, construction, and operation of the "Automotive Lightweight Precision Die-Casting Components Project," aiming to achieve an annual production capacity of 3 million units of automotive components.
The company said this investment is driven by the growing demand for orders, aiming to expand production capacity and enhance Foryou Corporation's ability to serve customers in the Yangtze River Delta region. The successful implementation of the project will contribute to the growth of the company's automotive lightweight precision die-casting component production capacity and market size, bolstering its core competitiveness and overall strength, aligning with its development strategy and layout.
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