Shanghai Highly New Energy Technology

MARELLI agreed to acquire equity interest in Shanghai Highly New Energy Technology Co. from Johnson Controls-Hitachi Air Conditioning, and signed a memorandum to establish a joint venture with Highly for compressor and HVAC business.

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.