Recently, the National “Tenth Five-Year Plan†technology project developed by Chongqing Magnesium Technology Co., Ltd., Longxin Group, and Chongqing University won the second prize for scientific and technological progress in China's non-ferrous metals industry in 2003.
The company’s key national new products “magnesium alloy cars and motorcycle accessories†are progressing smoothly. At present, more than 200,000 magnesium alloy motorcycle engines and 50,000 magnesium alloy helmets have been produced. The company is also supporting the production of 80,000 A2401 magnesium alloy steering wheels with SAIC-GM-Wuling Co., Ltd. It is expected that the supply will reach 400,000 within three years, and auto parts developed in cooperation with Chery Group are also progressing smoothly. Magnesium alloy industrialization demonstration project constructed by Chongqing Magnesium Industry has been approved by the National Development and Reform Commission, and has gradually formed a strategic goal of expanding into applications such as automobiles and hand tools. It has become the most important magnesium alloy auto parts research and production base in the country.
According to related data, magnesium alloys, the lightest metal materials for industrial applications, have a 36% lighter weight than aluminum alloys, 73% lighter zinc alloys, and 77% lighter steels in the same volume, with good damping performance. The preferred material for automotive lightweighting. Magnesium alloys have many advantages such as heat resistance, corrosion resistance, impact resistance, electromagnetic wave resistance, heat dissipation, easy cutting, recyclability, and the like. With the further improvement of the magnesium alloy forming process technology, automotive parts with lower cost, higher accuracy and better cost performance can be produced.
In automotive applications, the use of automotive magnesium alloy parts has grown at an annual rate of 20% since the 1990s. In recent years, up to 35% in North America and 60% in Europe. China is a major producer of magnesium metal, with magnesium resources accounting for 22.5% of the world's total reserves. Smoked raw magnesium production accounts for 40% of global production and is the world's largest magnesium producer and exporter. There is a huge gap between the level of domestic magnesium alloys used in automobiles and international ones, and there is a huge business opportunity in the field of magnesium alloy auto parts. Domestic companies are investing heavily in the deep processing of magnesium alloys.