Swedish auto safety gear maker Autoliv said on Thursday it plans to form a joint venture with Chinese electric vehicle electronics group Hangsheng Electric to make safety electronics for the Chinese market.
Autoliv said it expects the joint venture, in which it would hold a 40% stake, to be formally established in the first quarter of 2026 pending regulatory approvals from Chinese authorities.
“Together, we will advance automotive safety technologies by bringing new innovations and efficiency together,” it said in a statement.
“In addition to serving customers within China, this joint venture will enable Autoliv to support markets beyond China by providing advanced solutions and innovations in this field,” it said.
Reuters
