Haldex And VIE In Joint Venture
By pdamon04 May 2016
Haldex, the Swedish maker of brake and air suspension systems for heavy vehicles, and China’s Zhejiang VIE Science and Technology Co. Ltd. announced a 50/50 joint venture to design, develop, produce and sell electromechanical brake systems for commercial vehicles, subject to regulatory approvals. The initial focus of the venture will be on the electric bus market in China. VIE focuses on air brake systems for commercial vehicles as well as a variety of systems for passenger vehicles.
Under the agreement, Haldex and VIE will set up a greenfield joint venture with the parties each owning 50%. The venture will operate under the name Haldex VIE (China) Electro Mechanical Brake Systems Co. Ltd. and be based in Shanghai, China.
According to Haldex and VIE, the joint venture will capitalize on Haldex’s early development of electromechanical brake systems, which have not yet been released to the market, and VIE’s market position and customer base in the Chinese market. Both companies said they would contribute with the necessary financial and engineering resources to bring the electromechanical brake system to the commercial vehicle market, with revenue expected from 2020.