Shanghai (Gasgoo)- On December 11, Germany-headquartered family-owned automotive supplier Brose Group and the Chinese auto parts provider HASCO jointly hosted the signing ceremony for the extension of the joint-venture agreement of Shanghai Brose Automotive Components Co., Ltd., according to Brose' press release.
The roots of this partnership trace back to 1999 when Brose and Shanghai SIIC Transportation Electric Co., Ltd., a subsidiary of HASCO, established Brose's first China-based production facility in Shanghai – namely, Shanghai Brose Automotive Components. Over the past 25 years, the company has become a prominent supplier of door modules, window lifters, seat frames, cooling fan assemblies, door locks, and other products to renowned domestic and international automotive manufacturers. With approximately 320 employees, Shanghai Brose Automotive Components has achieved cumulative sales revenue of 26.88 billion yuan and cumulative production volume of 87.5 million units.
The renewed collaboration between Brose and HASCO maintains the original equity distribution of 60% and 40%, lasting for 25 years. During this period, both shareholders will synergize resources to aid Shanghai Brose Automotive Components in deepening its market presence, enhancing R&D capabilities, sustaining innovation, expanding its existing product portfolio, and broadening its customer base. Notably, the company will progressively establish R&D capabilities for electric tailgate struts and cooling fan assemblies to meet customer and market demands with greater agility.
