Loading…
Shanghai Highly Group and Marelli Holdings announced the completion of a joint venture transaction for auto parts, after Marelli divested and restructured its related business. The venture covers cooling and heating components for vehicles.
Marelli and Shanghai Highly signed a memorandum of intent to form a joint venture operating Marelli's compressor and HVAC business, with a definitive agreement targeted for January 2020.
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.
