# Highly Group acquires 60% stake in Marelli Hong Kong, forms joint venture

Shanghai Highly (Group) Co., Ltd. acquired 60% equity of Marelli (Hong Kong) Holdings Co., Limited, which was carved out from Marelli Holdings' automotive air-conditioning compressors and HVAC business. The joint venture is renamed Highly Marelli Holdings Co., Limited.

- Type: Acquisition
- Announced: 2021-02-02
- Where: Hong Kong SAR, China, Hong Kong SAR China
- Jobs: 4,200
- Status: completed
- Products: automotive air-conditioning systems, thermal management systems for new energy vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Marelli](https://endata.com/companies/5462.md) (target)
- [Shanghai Highly (Group)](https://endata.com/companies/5463.md) (acquirer)
- [Highly Marelli Holdings](https://endata.com/companies/7545.md) (partner)

## Sources

- [en.prnasia.com](https://en.prnasia.com/releases/apac/closing-of-highly-and-marelli-auto-parts-joint-venture-project-307502.shtml), 2021-02-02: "Highly Group has made the acquisition of 60% of the equity of Marelli Hong Kong."

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