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Haldex, Chinese Partner Form Joint Venture for Electromechanical Brakes
Sweden’s Haldex AB and China’s Zhejiang VIE Science and Technology Co. have formed a 50:50 joint venture to develop, produce and sell electromechanical brake systems for electric vehicles in Asia.
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Sweden’s Haldex AB and China’s Zhejiang VIE Science and Technology Co. have formed a 50:50 joint venture to develop, produce and sell electromechanical brake systems for electric commercial vehicles in Asia.
Based in Shanghai, the joint venture will be called Haldex VIE (China) Electro Mechanical Brake Systems Co. It will focus on braking systems for electric buses and other special-purpose vehicles.
The partners plan to build on Haldex’s early development of electromechanical brake systems and VIE’s Chinese customer base. Both companies will provide financial and engineering resources.
Haldex is best known for supplying high-performance all-wheel-drive, braking and suspension systems to Volvo. It has identified electromechanical brakes as a growth market. Zhujii-based VIE produces air and hydraulic brakes for a wide range of commercial and passenger vehicles. The Chinese supplier also makes steering and electric control systems for cars.
The Chinese market for electric buses is expected to grow 47% from 2015 to more than 141,000 vehicles by 2020, according to the partners.
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