# Hanon Systems and Fawer Automotive form auto parts JV in China

Hanon Systems and Fawer Automotive Parts Limited signed an agreement to set up a joint venture, Fawer Hanon Automotive Components, in China with initial capital of CNY 150 million. Hanon Systems will own 55% and Fawer 45%. The JV will produce electric compressors for automotive thermal management.

- Type: Partnership
- Announced: 2018-01-24
- Where: China, China
- Value: $23.4M (150.0M CNY)
- Status: announced
- Capacity: 300,000 units of electric compressors by 2020
- Products: electric compressors for automotive thermal management
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Hanon Systems](https://endata.com/companies/2556.md) (partner)
- [Fawer Automotive Parts](https://endata.com/companies/3391.md) (partner)

## Sources

- [pulse.mk.co.kr](https://pulse.mk.co.kr/news/english/8165251), 2018-01-24: "Hanon Systems and Fawer Automotive Parts Limited signed an agreement to set up joint venture Fawer Hanon Automotive Components (FHAC) in China."

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