China's Haiyuan to build a carbon fiber base for ultra-light NEVs in Zhejiang
Chinese company Haiyuan New Material Technology will build a carbon fiber production base in eastern Zhejiang province to develop ultra-light materials for new energy vehicles.Chinese company Haiyuan New Material Technology will build a carbon fiber production base in eastern Zhejiang province to develop ultra-light materials for new energy vehicles. Regarding the new plant, Haiyuan signed a framework agreement with Zhejiang Sea Port, an investment firm set up by Zhejiang province's government, Shenzhen-listed Fujianese chemical firm's parent Haiyuan Composites Technology said in a statement to its stockholders. The company said that Haiyuan has designed a production line for ultra-light car bodies while securing intellectual property rights. The investment firm will also establish a car industry fund for new material development, to which Haiyuan will invest in. The fund will have an initial investment of CNY2 billion (USD290 million) and later it will acquire