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Hwaway Technology plans to establish a joint venture in Mexico through subsidiaries Jinsheng Industrial Investment and Jinsheng USA, with total investment up to $30 million. Hwaway will contribute $19.5 million for a 65% stake, and Zhejiang Wan'an Technology will contribute $10.5 million for 35%.
Zhejiang Wanxiang Zhizhi Automotive Control Systems, a wholly owned subsidiary of Zhejiang Wan'an Technology, received a letter of intent from an undisclosed new energy vehicle maker to supply aluminum fixed calipers for three models. The project has a 5-year lifecycle with estimated total sales of 980 million yuan, starting production in 2026.