IKD to Build New Energy Vehicle Structural Parts And Battery, Motor, Electric Control System Parts Production Base In Mexico

On April 28, IKD Co. issued an announcement that the company planned to establish a subsidiary in Mexico, IKD New Energy Technology SA de CV, as the main body of construction and implementation of a new energy vehicle structural parts and battery, motor, electric control system parts production base.

The total investment of the project is expected to be no more than $180 million, which will be mainly used in land purchase, factory construction, purchase and new production equipment. After the project reaches full production capacity, 1.75 million pieces/year of new energy vehicle structural parts and 750,000 pieces/year of new energy vehicle battery, motor, electric control system components will be added. 

In the first quarter, IKD’s operating revenue stood at 1.26 billion yuan, a year-on-year increase of 39.19%, and a net profit of 169 billion yuan, a year-on-year increase of 99.52%.

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