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The opening ceremony of SF Tooling Group's factory in Haiyan county, Jiaxing, East China's Zhejiang province. [Photo/tianmunews.com]

SF Tooling Group, a world-leading die-casting mold manufacturer, held the opening ceremony for its new factory in Haiyan county, Jiaxing, East China's Zhejiang province on Dec 14.

The group, headquartered in Leingarten, Germany, produces high-quality tools and molds for die-castings and composite parts. Its automotive customers include famous brands like General Motors, Mercedes-Benz, Audi, BMW and Porsche. In 2021, it was rated as one of the hidden leaders in the global market by German Economic Weekly.

With an investment of 20 million euros ($21.83 million), the factory in Haiyan is the group's first in China. It mainly produces whole-vehicle model molds for well-known electric vehicle brands. It is expected to have an annual output value of 130 million yuan ($42.1 million).

Heinrich, the group's president, said that Haiyan was chosen for its unique industrial and location advantages. Haiyan also helped the enterprise complete the construction of supporting factories quickly and efficiently.