Marelli and Highly International signed an agreement to create Highly Marelli Holdings, a joint venture focused on electrified compressors and HVAC, with legal closing planned for early January 2021.
SLPT Automotive announced the acquisition of BorgWarner's water pump business and operations in Ningbo, China, which will become a new division within the SLPT Automotive Group.
Marelli agreed an equity transfer agreement with Johnson Controls-Hitachi to acquire an equity interest in Shanghai Highly New Energy Technology, an electric compressor maker, with completion estimated in Q3 2019.
Dongfeng Parts and Components Group and Fawer Automotive Parts agreed on 31 May 2018 in Wuhan to set up Dongfeng Fawer Pump Industry, a joint venture in Shiyan New Industrial Park, Hubei, to make pumps for commercial, passenger and electric vehicles. The venture targets RMB 260 million revenue by 2023.
Standard Motor Products formed a 50/50 joint venture, Foshan FGD SMP Automotive Compressor, with China-based Foshan Guangdong Automotive Air Conditioning, investing approximately US$12.5 million to make automotive air conditioning compressors.
Faurecia signed a joint venture agreement with Dongfeng Motor Parts & Components Group for its Clean Mobility business in Wuhan, China, on 4 July 2017. The JV is set to start operations in 2018.