Speech by Qiu Ruimin

Remarks delivered by live two-way video, to the Battery Electric Vehicles Architecture Congress, February 26, 2020.

I would like to introduce you to the Yulin magnesium industry.

Yulin is a city in northern Shaanxi Province, China with annual potential mineral resources valued at about $650 million US dollars. Our raw magnesium output is 420,000 metric tonnes per year, which accounts for approximately 41% of the world’s supply. My organization, Yulin Magnesium and Alloy Technology Innovation, is the supporter, promoter and often investor in the magnesium industry, representing the local and provincial government.

We have signed a Memorandum of Understanding with Galaxy Trade and Technology, the China-US joint venture. We work closely with them and fully support their goal — to bring magnesium exports to the world in a spirit of service and excellence.

Qiu Ruimin

That’s why I’m here with you today.

Energy conservation is a major priority for electric vehicles, and automobile lightweighting is a practical strategy for achieving this goal. This provides a good basis for our long-term friendly cooperation. We are building a lightweight industrial ecosystem, based on magnesium and aluminum.

Our key capabilities include sufficient supply, price advantage and support of the government.

1、Sufficient supply is guaranteed. China is the most important magnesium-producing country in the world, and Yulin is the main magnesium producing area in China. Through many years of investment and hard work, we have developed a clear high-capacity production advantage.

2、Because of this high capacity, we also have a price advantage. Magnesium production requires large amounts of electrical energy. Through a combination of renewable energy and abundant coal resources, we have reduced our operating costs, and are able to offer significant price advantage to world markets.

3、The Yulin Municipal government attaches great importance to the magnesium industry. They have designated $100 billion, phased over several years and made available through a series of preferential policies. We support research and development technology projects, including smelting, plastic processing and magnesium alloy technology. Our next step is to attract investment to build a professional, large-scale magnesium industrial cluster, and we are working with Galaxy on that.

We sincerely welcome all kinds of enterprises, to visit Yulin and discuss friendly co-operation based on mutual respect and equality. Greetings to all our friends in Detroit, and across America!