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ABB and China’s automotive parts supplier, HASCO, announce the creation of a joint venture to drive the next generation of smart manufacturing in China’s automotive industry.
The joint venture will build on the existing successful relationship between the two companies, leading to the crucial development of highly flexible and sustainable auto parts manufacturing within HASCO’s China-based operations.
The partnership between ABB Robotics and HASCO, which includes a 40% stake by ABB in the joint venture, will expand the use of smart technologies and artificial intelligence within the industry. Both parties agreed not to disclose any further details about the investment.
The new joint venture, expected to commence operation in Q2, 2022, will build on the expertise and manufacturing experience of both partners to realize the potential for increasing efficiency within the auto parts industry. Customers in a range of industries, from vehicle body to chassis systems, power and battery electronics to e-drive systems, will benefit from new, highly efficient and environmentally sustainable manufacturing methods.