Dongfeng Industrial

Ajin Industrial announced it will acquire a 50% stake in a joint venture with Dongfeng Industrial, tentatively named Dongfeng Ajin (Jiangsu) Auto Parts, for 3 billion won (US$2.69 million).

Shanghai Edrive and Dongfeng Industrial established a joint venture to develop and produce motor drive products for new energy vehicles, with Shanghai Edrive owning 60% and Dongfeng Industrial 40%. The JV will invest USD 157 million in a manufacturing plant.