Hongtu Technology Starts Supplying Precision Aluminum Auto Parts to Tesla
Yicai Global
/SOURCE : Yicai
Hongtu Technology Starts Supplying Precision Aluminum Auto Parts to Tesla

(CBN - Global) April 19 -- Guangdong Hongtu Technology Holdings Ltd. [SHE:002101], which specializes mainly in precision aluminum alloy die casting design and manufacturing for autos, said it has started to supply parts to Tesla Motors, an American electric carmaker.

Cooperation with Chinese companies such as Hongtu Technology will help California-based Tesla to cut costs. High pricing and competition from local electric automakers in China have impacted on Tesla's performance in the Chinese market.

Last year, Mr. Elon Musk, Tesla's founder and chief executive, said that the company's production would be localized in China within three years.

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