undefinedPreh GmbH, Bad Neustadt a.d. Saale, Germany, and Joyson Automotive Electronic Holding Co., Ltd, Ningbo, China, announced they have signed a letter of intent to form a joint venture (JV) that will develop, produce and market Preh products in Asia.
The joint venture will be located in Ningbo, China, one of the leading technology sites for the Chinese automotive industry. Both companies expect quick regulatory approvals and plan to begin operations later this year.
Dr. Michael Roesnick, president and CEO of Preh GmbH, said, “For Preh, this detailed agreement with Joyson is a decisive step into the Chinese market. Because of their technical competence and client access, Joyson is an ideal partner for Preh.
“The joint venture will increase our competitiveness” Roesnick continued. “At the same time, the entry into the Chinese market represents a continuation of our international strategy over the past five years, as witnessed by our new facilities in Mexico and Romania, as well as our sales office in Shanghai.”
Jeff Wang, chairman and founding partner of Joyson, said, “We are delighted to have found a distinguished partner who has proven its first-class competence for intelligent mechatronic solutions consistently, particularly in the premium segment. Joyson and Preh ideally complement one another as automotive suppliers in different areas, and we will offer both superior and reasonably priced operating systems to our joint customers.”
undefinedPreh GmbH, Bad Neustadt a.d. Saale, Germany, and Joyson Automotive Electronic Holding Co., Ltd, Ningbo, China, announced they have signed a letter of intent to form a joint venture (JV) that will develop, produce and market Preh products in Asia.