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Autoliv, Nissin Kogyo Form Global Brake System Venture
Autoliv Inc. and Japan's Nissin Kogyo Co. Ltd. have agreed to launch an international joint venture to develop next-generation electronic braking systems for light-duty vehicles.
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Autoliv Inc. and Japan's Nissin Kogyo Co. Ltd. have agreed to launch an international joint venture to develop next-generation electronic braking systems for light-duty vehicles. The partners expect to launch the company in early 2016.
The unnamed $545 million venture will be managed and 51% owned by Autoliv. Nissin Kogyo, a producer of high-performance brake systems for cars and motorcycles, will transfer its 33.2 billion yen ($274 million) automotive brake business to the new company. Autoliv will contribute its electronic brake control expertise.
The partners say the venture will focus on integrating active and passive braking technology for tomorrow's self-driving vehicles. The new company will employ about 2,000 workers and operate three engineering facilities, two test tracks and several production plants in Japan, China and the U.S.
The venture is expected to generate first-year revenue of about $600 million, according to the partners.
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