Anhui Xinbo Aluminum's (SHE:003038) subsidiary, Anhui Xinbo New Energy Vehicle Parts, signed an agreement with Chongqing Strategic Emerging Technology Industrial to construct the Xinbo new energy vehicle parts plant for 50 million yuan, according to a Shenzhen Stock Exchange disclosure on Monday.

Chongqing Strategic Emerging Technology will assist with the construction and production of the project, the disclosure said.

The Chinese aluminum producer will lease about 5,000 square meters of production space in Chongqing Airport Frontier Tech City in China for the plant, which will produce 200,000 sets of NEV parts every year.