Brose and HASCO renew Chinese joint venture contract for another 25 years

Since 1999, Shanghai Brose Automotive Components has produced about 90 million products for Chinese and international car manufacturers; the joint venture currently develops and manufactures door modules, window regulators, seat structures, cooling fan modules and latches.

Autocar Professional BureauBy Autocar Professional Bureau calendar 13 Dec 2023 Views icon2510 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
L-R: Shao Gang, Deputy Party Secretary and Mayor of Anting Town; Ma Zhengang, Deputy GM, HASCO; Xiang Ping, Party Secretary and Director of Jiading District Economic Commission; Wang Jun, Director and

Brose, the fourth largest family-owned automotive supplier in the world, has renewed its contract with China’s HASCO for their joint venture Shanghai Brose Automotive Components Co. Ltd for another 25 years.

Brose is thus strengthening its own market presence and creating the basis for a reliable collaboration to meet the challenges and opportunities of China’s automotive market in the future. 

HASCO is one of the largest automotive suppliers in China providing technologies, services and products to vehicle manufacturers worldwide in more than 40 business segments. Its business mainly covers the fields of automotive interior and exterior components, electronic and electrical parts as well as metal forming and moulds.

In 1999, Brose and STEC, a subsidiary of HASCO, established a joint venture to set up Brose's first production base in Shanghai, China – Shanghai Brose Automotive Components. Since then, the company has produced a total of about 90 million products for well-known national and international car manufacturers. Today, around 320 employees develop and manufacture door modules, window regulators, seat structures, cooling fan modules and latches.

“I am delighted to see the success story of our cooperation with HASCO continues and that we will further work with our partner to enhance the competence of the joint venture as our business evolves,” said Philipp Schramm, Chief Executive Officer and Chief Financial Officer Brose, in his speech at the signing ceremony in Shanghai on December 11.

Brose and HASCO will continue their cooperation with the original shareholding distribution, which is 60 percent to 40 percent. Both companies will synergies their resources to help Shanghai Brose Automotive Components further enhance its development and innovation strengths, continue to expand its existing product range and customer base while deepening its market presence. For example, the company will gradually build up its product development capabilities for power liftgates and cooling fan modules to meet customer and market demands with faster response time.

Brose, which has at least one of its products in every second new car worldwide, has about 32,000 employees at 68 locations in 24 countries and generated a turnover of 7.5 billion euros in 2022.

RELATED ARTICLES
US tariffs will hurt both automakers and US manufacturing: ACEA

auther Autocar India calendar27 Mar 2025

European Automobile Manufacturers’ Association says that the EU and the US must engage in dialogue to find an immediate ...

Trump levies 25% tariff on all cars imported to US

auther Autocar India calendar27 Mar 2025

President Donald Trump claims new levy on all cars and car parts shipped into the country will create "tremendous growth...

Hyundai opens its third factory in the US: Metaplant America

auther Autocar India calendar27 Mar 2025

Hyundai Motor Group Metaplant America's vehicle assembly and battery plant is the key pillar of the Hyundai Motor Group’...