China is the world’s largest vehicle market, selling more than 28 million cars and trucks in 2016, compared with 18 million in the United States. Almost all the vehicles sold in China are made in China, supporting a diverse ecosystem of 76 component making conglomerates, and 184 vehicle assemblers, in addition to dozens of indigenous brands.
After a decade of double-digit growth, the market is now starting to mature. Most urban households have already purchased at
least one car, and, according to McKinsey & Company, half of those households are considering “trading up” to newer and better models. Meanwhile, the shape of China’s auto industry could change radically if Chinese authorities make good on their promise to eventually prohibit the sale of fossil-fuel-powered vehicles, in favor of those powered by batteries. Faced with the need to adapt, Chinese domestic auto makers are scouting the globe to buy premium brands, advanced technologies, and companies capable of conducting R&D into electric vehicles.
Zhejiang Wanfeng Auto Wheel specializes in manufacturing alloy wheels primarily for passenger vehicles. The company exports to the United States, Japan, Germany, France, Russia, South Korea, and Brazil. Some of its clients include GM, Land Rover, Mercedes-Benz, and Ford. More than 60% of its 2016 revenue came from overseas markets.
India United Kingdom Canada Germany Mexico
Magnesium Products of America (MPA) 2001 Industrial Drive, Eaton Rapids, MI 48827, USA P: 517.663.2700
In March 2016, Zhejiang Wanfeng acquired Paslin Co. for $302 million, a Michigan-based company specializing in assembly systems for automobiles.
In October 2012, Zhejiang Wanfeng invested over $35 million to establish a production facility in India. This new facility will supply motorcycle wheels in the local Indian market.
In December 2013, Zhejiang Wanfeng’s parent company, Wanfeng Auto Holding Group, acquired Canada-based magnesium alloy auto component producer Meridian Lightweight Technologies, for roughly $150 million.