# Hanon Systems forms joint venture with CSGC subsidiaries

Hanon Systems will establish a joint venture with Chongqing Jianshe Motorcycle Co. Ltd. and Chongqing Jianshe Mechanical & Electrical Equipment Co., subsidiaries of China South Industries Group Corporation, to supply automotive air conditioning and eco-friendly solutions to Changan Automobile Group. The partners will invest a combined 420 million Yuan (approx. $64 million) in registered capital.

- Type: Acquisition
- Announced: 2017-10-11
- Where: Chongqing, China
- Value: $64.0M (420.0M CNY)
- Status: announced
- Products: automotive variable compressors, heat pump systems, HVAC modules, powertrain cooling components
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Hanon Systems](https://endata.com/companies/2556.md) (partner)
- [Chongqing Jianshe Motorcycle](https://endata.com/companies/5055.md) (partner)
- [Chongqing Jianshe Mechanical & Electrical Equipment](https://endata.com/companies/5056.md) (partner)
- [Changan Automobile](https://endata.com/companies/5057.md) (customer)
- [China South Industries Group Corporation](https://endata.com/companies/27670.md) (partner)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/hanon-systems-establishes-joint-venture-with-china-south-industries-group-corporation-subsidiaries-300535323.html), 2017-10-12: "Completion of the new joint venture is expected by the end of 2017, pending formal approval by the China government."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.