German rare earth motor project to settle in Baotou
2018-07-04 15:29:34 [Print]
On June 28, Baotou Hongbote Co., Ltd. and German Sparky Group reached a cooperation framework agreement and held a signing ceremony for various rare earth permanent magnet motor and electric tool product project.
This project will eventually build rare earth permanent magnet motor production lines with an annual production capacity of 5 million for electric scooters, electric bicycles, electric motorcycles, and electric vehicles, as well as an intelligent production line producing and assembling more than 160 kinds of power tools. The total investment of the project will reach RMB1.08 billion. The project will be divided into three construction phases, and the total construction period will be 5-10 years. After completion, the annual sales will reach RMB2.18 billion. Hongbote Group has been approved to use 120 mu of land in Inner Mongolia Rare Earth New Materials Industrial Park for the first phase of the project. It is expected that the first construction phase will start in October 2018, and 1.5 million motors will be put into operation in October 2019.
This project will eventually build rare earth permanent magnet motor production lines with an annual production capacity of 5 million for electric scooters, electric bicycles, electric motorcycles, and electric vehicles, as well as an intelligent production line producing and assembling more than 160 kinds of power tools. The total investment of the project will reach RMB1.08 billion. The project will be divided into three construction phases, and the total construction period will be 5-10 years. After completion, the annual sales will reach RMB2.18 billion. Hongbote Group has been approved to use 120 mu of land in Inner Mongolia Rare Earth New Materials Industrial Park for the first phase of the project. It is expected that the first construction phase will start in October 2018, and 1.5 million motors will be put into operation in October 2019.
