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Baosteel, SAIC and Donghua Signed Mould Project Cooperation Agreement
March 1st, Voices of the Straits Online Sea Station – On February 28, Baosteel Group, SAIC Motor Corporation, and Donghua Company signed a strategic cooperation agreement in Nanjing, focusing on mold projects. As part of this collaboration, they recapitalized Nanjing Nanchang Mould Equipment Co., Ltd., marking a significant step in deepening their partnership. This initiative highlights the growing synergy between China’s leading automotive and steel production giants, aiming to strengthen their presence in emerging industrial fields.
Baosteel Group is not only the largest and most technologically advanced steel conglomerate in China but has also consistently ranked among the Fortune 500 companies for four years in a row. SAIC Motor, one of the top three automotive groups in the country, is involved in the manufacturing, sales, and development of passenger cars, commercial vehicles, and auto parts. It is also recognized as a global Fortune 500 company. Donghua, a joint venture between SAIC and Nanjing Yuejin Group, specializes in automotive process equipment. Following the restructuring, Baosteel and SAIC each hold a 35% stake in the newly formed joint venture, while Donghua owns 30%.
This collaboration represents a meaningful effort to enhance cross-regional and industrial coordination between Baosteel and SAIC. The mold project will allow Baosteel to leverage its strengths in steel supply and material innovation, while improving its expertise in sheet metal technology and cost efficiency. For SAIC, it offers an opportunity to expand its industry leadership, increase production capacity, and capture a larger market share. Additionally, the partnership is expected to drive resource optimization and industrial upgrading in the Yangtze River Delta region, creating a positive ripple effect across the automotive and related sectors.
This move reflects a broader trend of industrial integration and strategic alignment, signaling a promising future for both companies and the wider automotive ecosystem.