TE has granted the "Strategic Partnership Award" by TE Automotive.
- 02. November 2022
Affected by the international situation, the global energy prices surged and the metal supply is tight. Global warming caused the rare high temperature this summer all over the world. In the case of frequent outbreaks in China, KMD, as the long-term partnership supplier of TE, steadily provide high-quality products and services. We strictly adhere to the delivery target. Our workers stick to the post under high temperatures. Our supply team rationally deploys the production capacity during the epidemic. KMD actively expand production capacity and take all the measure to ensure material supply to TE on time.
According to the China Association of Automobile Manufacturers, in the first nine months of this year, the cumulative sales of new energy vehicles reached 4.567 million units, a YOY increase of 110%, and the penetration jumped to 23.5 percent. Another German automotive company, BMW, has decided to move its MINI EV production line from its Oxford plant to China allegedly, following the 16.8 billion CNY investment of a Volkswagen project in China. BMW's next-generation MINI pure electric model, will be produced in Zhangjiagang, Jiangsu province, China, as part of its partnership with Great Wall Motor.
The favorable purchase tax policy in China continues until the end of 2023. The future of the new energy vehicle China market is still expected. Copper demand in China's electric vehicle industry is expected by Copper Research Organization (CRU) to rise YOY 18% in 2023 to 473,000 tons. In the process of accelerating electrification in the global transportation industry, KMD, as one of the well-known suppliers of automotive connector raw materials, will do our part in maintaining the stability of the supply chain and working together with partners to achieve win-win development for all parties.