Shenmao Technology is establishing a new factory in Texas in response to growing demand for its solder products, particularly in the automotive sector. The company anticipates the facility will significantly enhance its production capacity, catering for key clients’ needs, including those in the EV manufacturing sector.
The facility is located near the US-Mexico border. As the automotive industry evolves, Shenmao recognizes the importance of proximity to key markets. The company aims to increase monthly North American production capacity by two to three times by Q1 2024.
Despite challenges in the broader electronics manufacturing industry, Shenmao remains optimistic. The company anticipates a slight revenue uptick in the last quarter, marking the third consecutive quarter of growth. This positive trend is attributed, in part, to a pivotal client in the electric vehicle manufacturing sector. Shenmao has strategically positioned itself to integrate into the supply chain of this key player by expanding its production capabilities in Texas.