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Chery Technology, a subsidiary of Chery Holding, and Anhui Shengna Technology will form a joint venture to build an intelligent electronics industrial base in Wanzhi District, Wuhu, Anhui Province. The initial investment is 1 billion yuan ($146.23 million), and production is expected to start by the end of June 2023.
Bethel Automotive Safety Systems agreed to acquire a 45% equity stake in Zhejiang Wanda Automotive Steering Co., Ltd. for approximately 200 million yuan. The acquisition will add steering system products to Bethel's automotive safety portfolio.