ThyssenKrupp Group invests 1.1 billion U.S. dollars in the construction of an automotive steel plate production line

Recently, the German ThyssenKrupp Group signed a project investment agreement with Chongqing Municipality, and ThyssenKrupp Group will invest USD 1.1 billion in automotive steel plate projects in Chongqing. It is understood that the project will be carried out in two phases, one of which is an investment of 3 Around US$100 million, an auto steel plate production line was built.

ThyssenKrupp Group is the fifth largest comprehensive industrial group in Germany. Its business covers steel, automotive technology, machine manufacturing, engineering design, and trade. The ThyssenKrupp Group is a German industrial giant with over 193,000 employees. The amount reached 38 billion euros. The Group's ThyssenKrupp Elevator Group is one of the world's three largest elevator and escalator manufacturers. It employs approximately 28,500 people and has sales of approximately 3.5 billion euros. It has operations throughout the world. Ranked 138 in the 2011 World Top 500, ranking second in the world's steel companies.

The ThyssenKrupp Group's investment in automobile steel plate project in Chongqing is the third automobile steel plate production line of ThyssenKrupp in China. It is also the first automobile steel plate production line invested in the Central and Western regions and is accompanied by investment in laser welding. The auto steel plates produced will be supplied to domestic mainstream car manufacturers. The implementation of the project will further improve and optimize the automobile industry chain of Liangjiang International Automobile City and enhance the comprehensive supporting capabilities of the Chongqing automobile industry. After completion, it will save considerable logistics costs for Chongqing and domestic automakers.
ThyssenKrupp has stated that China’s steel production and demand have risen sharply. Currently, it is the world’s largest steel producer. The market potential of China’s steel manufacturing and auto industry is huge, and the company’s development prospects in China are promising.