Plastics News - Show Daily - October 24, 2022 - 1

October 24, 2022  PlasticsNews.com
MONDAY
SHOW DAILY
EVs, BYD driving
investments in China
Tederic sells 628
machines to China's
largest EV maker
By Steve Toloken
Plastics News Staff
C
hina's burgeoning electric car market is driving
growth at injection press maker Tederic Machinery
Co. Ltd., part of a wave of business that Chinese
plastics equipment suppliers say they're
getting from manufacturers of alternative fuel vehicles.
Tederic recently won a contract to supply 628 molding
machines to China's largest electric vehicle maker,
BYD Automobile, which the machinery company valued
at about 500 million Chinese yuan ($69 million).
In an interview at Tederic's booth at K 2022, Chairman
Terry Zheng said it's
part of an estimated 3
billion yuan ($410 million)
investment that
BYD is making in plastics
molding machines,
as it seeks to address its
capacity problems.
Electric cars have
become a major market
for Tederic, as more traditional
markets have
softened, he said.
" This is an opportunity
for Tederic for the
next 10 years, " Zheng
said. " It's not a one- or
two-year business. It
will be a 10-year business
for us. "
In September, the Chinese
press maker announced
the BYD contract,
saying it would
supply presses in 10
of BYD's 13 factories
TEDERIC
MACHINERY CO.
Hall 15,
Booth D40
This is an
opportunity
for Tederic for the
next 10 years. It's
not a one- or twoyear
business. It
will be a 10-year
business for us. "
Terry Zheng
Tederic Machinery Co.
See Tederic, Page 32
©Entire contents copyright 2022 by Crain Communications Inc.
All rights reserved.
INSIDE
MONDAY
©Entire contents copyright 2019 by Crain Communications Inc. All rights reserved.
Strong dollar
hits plastics
worldwide
PAGE 22
PreZero grows
to global
recycler
PAGE 5
VISIT THE
PLASTICS
NEWS
BOOTH
HALL 6, C08
K 2022 | 19 - 26 October 2022
Visit us at Hall 17 | Booth A 57
A
Chen Hsong
aims at 'new era,'
touts BYD deal
By Steve Toloken
Plastics News Staff
fter a challenging pandemic, Hong
Kong-based
injection
press
maker
Chen Hsong Holdings Ltd. is upgrading
technology and seeing growth in new
markets like China's electric car industry.
In an interview at the company's booth at
K 2022, Chairman and CEO Lai Yuen Chiang
pointed to upgraded machines on offer in its
booth - along with a recent $50 million order
from Chinese electric-vehicle maker BYD -
as evidence the company was making its way
through tough waters.
" The market is still challenging and
full of uncertainty, but with our new
products, we're opening up new
market segments, for example, with
BYD, " she said.
In March, the company announced
it had orders from BYD, China's largest
maker of electric cars, for several
See Chen Hsong, Page 30
CHEN HSONG
HOLDINGS LTD.
Hall 13,
Booth B43
Chairman and CEO Lai Yuen
Chiang of Hong Kong-based
injection press maker Chen
Hsong Holdings Ltd. The
company has a big order from
electric-vehicle maker BYD,
pushing it into new markets.
Plastics News photo by Caroline Seidel
http://www.PlasticsNews.com
Plastics News - Show Daily - October 24, 2022

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