By 2027, the electric vehicle market in China is projected to reach a total revenue of US dollars 160 billion according to Statista. Compared to US dollars 59.47 million in 2020, it is clear that this sector is growing rapidly. This volume also establishes China as the biggest market for electric vehicles globally today.
Suppliers to the automotive industry are confronted with many challenges, ranging from changing market dynamics to tense supply chains. One of these is GF Casting Solutions, a manufacturer of lightweight components in the mobility and energy segments. With more than 4,000 employees in 12 production sites worldwide, the division makes around 80 percent of its sales in the automotive segment. Having a regional presence in China contributes to the success of GF Casting solutions, this includes a site in Suzhou, close to Shanghai, that specializes in manufacturing and researching lightweight parts for the mobility sector.
A regional presence in China contributes to the company's success. This includes a site in Suzhou, near Shanghai, which specialises in the production and development of lightweight components for the mobility sector. To meet the demands of the market and make processes more sustainable, the manufacturer was looking for a partner.