On January 10, Gelonghui Co., Ltd. (603270.SH) announced that in order to improve and implement the company's international strategic development layout, increase the depth and breadth of market coverage, and further consolidate and enhance cooperative relationships with customers in the automotive industry and other industries in North America, the company plans to establish a subsidiary Mattesco Mexico in Mexico with 40 million yuan or other foreign currency equivalent to invest in the construction of the company's Mexican production base.
Mattesco Mexico mainly focuses on R&D, production, and sales of electric drive system components for new energy vehicles (including but not limited to parts such as rotor assemblies, stator assemblies, motor shafts, and fixed rotor cores). The company invested in the establishment of Mattesco Mexico, which will help to better serve the company's international customers, effectively reduce product production and transportation costs, improve supply efficiency, expand overseas markets, and meet the company's long-term development strategy.