On January 3, 2022, Zhejiang Jingu Company Limited(002488) (002488. SZ) announced that the company recently received a project fixed-point notice from a large passenger car manufacturer in China. The company will develop and produce “Avatar car wheels” as a parts development and production supplier for the vehicle enterprise.
According to the announcement information, the project will complete the development and mass production according to the requirements of the vehicle enterprise. It is expected that the mass production will be realized in October this year after the completion of product road test and assembly verification.
It is understood that avatar low carbon wheel is a lightweight product developed by Zhejiang Jingu Company Limited(002488) for 10 years and launched at the end of 2020. Compared with traditional wheels, avatar low carbon wheel has outstanding advantages in weight, accuracy and appearance design. According to the internal experimental test results of Zhejiang Jingu Company Limited(002488) , the strength of Avatar wheel is three times that of ordinary steel wheel and six times that of aluminum wheel, The accuracy is twice that of ordinary steel wheel. At the same time, it has the characteristics of better balance, stronger deformation resistance and more durability.
It is worth mentioning that the application of avatar low-carbon wheel in the passenger car market will more effectively reduce the carbon emission in the wheel production process. According to Zhejiang Jingu Company Limited(002488) , if the passenger car completes the replacement of avatar low-carbon wheel in the appropriate model, the carbon emission in the wheel production and manufacturing process alone can be reduced by about 30 million tons per year.
With regard to the project fixed-point notification letter received from a large passenger car manufacturer in China, Zhejiang Jingu Company Limited(002488) said that this is the first fixed-point notification letter for mass production of cars in China for the company’s Avatar wheels, which represents that the company’s Avatar low-carbon wheels have been recognized by the customer, and is expected to have a certain impact on the company’s revenue and profit level in the next year.
(Securities Daily)
