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BRILLIANCE CHI Establishes JV with TCL Ningbo to Develop, Manufacture Intelligent Cockpit/ Display Assembly Biz
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Through its investment holding company, JinBei Automotive Industry Holdings (SJAI), BRILLIANCE CHI (01114.HK) entered into a joint venture agreement with TCL Ningbo in relation to the formation of a joint venture to engage in the development and manufacturing of intelligent cockpit and display assembly business in China, according to BRILLIANCE CHI's announcement. Pursuant to the agreement, the joint venture will be held as to 50% and 50% by SJAI and TCL Ningbo each, with a total capital commitment of RMB1.4 billion, half of which will be contributed by SJAI in cash and the other half by TCL Ningbo partly in cash and partly by injection of assets. AAStocks Financial News |
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