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Electronics Production |
Haldex and VIE establish JV to develop electromechanical brake systems
Haldex and Zhejiang VIE Science and Technology has established a joint venture to design, develop, produce, and sell electromechanical brake systems for commercial vehicles with an initial focus on the electric bus market in China.
As manufacturers and governments seek solutions to combat climate change, China is seen as taking a global lead in the market for fully electric commercial vehicles. Electromechanical brakes is expected to be a fast growing niche within this market, especially supported by the recent development of the electric bus segment on the Chinese market. The Chinese market for electrical buses is forecasted to grow by 47% between 2015 and 2020, to over 141'000 vehicles produced during 2020. Under the agreement, Haldex and VIE will set up a green field joint venture with the parties owning 50% each. The joint venture will operate under the name Haldex VIE (China) Electro Mechanical Brake Systems Co., Ltd. and be based in Shanghai, China. The joint venture will capitalize on Haldex’ early development of electromechanical brake systems, not yet released to the market, and VIE’s market position and customer base on the Chinese market. Both parties will contribute with the necessary financial and engineering resources to bring the electromechanical brake system to the commercial vehicle market.