Highly and Magneti Marelli auto parts joint venture project completed

China Automotive News, February 1st. Recently, Highly Group and the world-renowned auto parts supplier Magneti Marelli announced the completion of the auto parts joint venture project.

Highly and Magneti Marelli hold an auto parts joint venture project delivery ceremony

According to China Automotive News, prior to the completion of the project, Magneti Marelli has already divested and reorganized its assets and business of automotive air-conditioning compressors and air-conditioning systems (with a business scale of 91.7 billion yen in 2019), and established Magneti Marelli Hong Kong, integrating target assets and businesses. The Highly Group completed the acquisition of a 60% stake in Magneti Marelli in Hong Kong. After the completion of the settlement, the company will be renamed Haili Marelli Holdings Co., Ltd. (hereinafter referred to as 'Hilimar Ruili').

The company is registered in Hong Kong, China, and its operating headquarters are located in Shanghai, China and Saitama, Japan. The number of employees is approximately 4,200. The business is distributed in Japan, China, other parts of Asia, Europe and North America.

Currently, the global new energy automobile industry is in the ascendant. As the world's largest new energy automobile market, China continues to maintain rapid growth. Auto parts business is the key development industry segment of Highly Group. The cooperation between Highly and Magneti Marelli is not accidental but inevitable. 'The common genes, the same mission, and the complementary advantages' laid the foundation for the cooperation between the two parties. After the completion of this project, Haili Marelli will devote itself to the research and development, manufacturing and sales of world-class automotive air conditioning systems and new energy vehicle thermal management systems as a whole solution, making full use of the advantages of both parent companies in the field of auto parts and exerting synergies. , Expanding the global market, is expected to grow into the 'first echelon' of the global new energy vehicle heat pump air-conditioning system.