Autoneum has acquired a 25% stake in an existing joint venture with its long-time partner and Japanese supplier Nihon Tokushu Toryo (Nittoku) and Chinese supplier TGPM Automotive Industry Group in the emerging market of China.
In future, innovative components for acoustic and thermal management will be produced for Japanese automobile manufacturers in the company’s existing plant in Wuhan.
According to Autoneum, China is already the world’s largest automotive market with around 20m light vehicles produced annually, and it is one of the most important emerging markets of the automotive industry with an expected increase to more than 27m light vehicles in 2017.
Wuhan Nittoku Autoneum Sound-Proof, the joint venture now operated by Nittoku, Autoneum and TGPM, has maintained a production site in Wuhan, Hubei province, for supplying Japanese automobile manufacturers since 2011.
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