Michigan-based joint venture with Chinese Tier 1 supplier specialising in charging and distribution solutions for new energy vehicles to strengthen Visteon’s technology capabilities and expand product portfolio
12 Mar 2024 | 3368 Views | By Autocar Professional Bureau
Visteon, the global technology leader driving digitalisation and electrification trends in the mobility industry, has announced the creation of a Michigan-based joint venture with Shinry Technology Companies Ltd, a China-based Tier 1 supplier specialising in charging and distribution solutions for new energy vehicles.
The joint venture, known as Visteon-Shinry ...
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Visteon, the global technology leader driving digitalisation and electrification trends in the mobility industry, has announced the creation of a Michigan-based joint venture with Shinry Technology Companies Ltd, a China-based Tier 1 supplier specialising in charging and distribution solutions for new energy vehicles.
The joint venture, known as Visteon-Shinry Power Electronics (VSPE), enables the two companies to strategically grow their power electronics capabilities by combining Visteon’s strength in software, hardware and system integration with Shinry’s nearly two decades of research, development and production in broad-spectrum power electronics. The joint venture will be co-led by Zilai Zhao, Visteon Senior Director and Power Electronics Leader, and Jiangang (David) Gu, Shinry Deputy General Manager.
“This collaboration brings two best-in-class companies together to further advance the state-of-the-art technologies in power electronics for the automotive industry. We expect this joint venture to develop and industrialize advanced technologies in power electronics and allow us to deliver cost-competitive technologies quickly to customers in the growing electric vehicle market,” said Bob Vallance, Visteon Senior Vice-President of Global Customer Business Groups, Product Lines, and General Manager APAC Region, Visteon.
“The strategic cooperation between Shinry and Visteon will allow us to take full advantage of our shared resources and expertise. We will work together on innovative research and development to expand our market reach and provide customers with better products and services that create greater value for society,” commented Dr Renhua Wu, Shinry Chairman and General Manager.