Hyoseong Electric

A consortium of KRAH Group and HyoSeong Electric will acquire the business operations of insolvent HKR Seuffer Automotive. KRAH will acquire a 50% stake in the Chinese joint venture Shanghai Krah Seuffer Electronics Co Ltd. The transaction is expected to be completed in April 2019.

China Automotive Systems (CAAS) and Hyoseong Electric formed a joint venture, Hyoseong (Wuhan) Motion Mechatronics System Co., Ltd., to design, manufacture and sell electric motors for automotive electric power steering systems. CAAS owns 51%, Hyoseong 49%. Total investment is RMB 550 million, with a new facility planned near CAAS's Wuhan headquarters with annual capacity of 4.5 million units.

China Automotive Systems (CAAS) and Hyoseong Electric formed a joint venture, Hyoseong (Wuhan) Motion Mechatronics System, to design, manufacture and sell electric motors for automotive electric power steering systems. A new production facility is planned near CAAS's headquarters in Wuhan with an expected annual capacity of 4.5 million units. Total investment is CNY 550 million (US$80 million), with CNY 198 million for the first phase.