Magneti Marelli, partner in China JV aim for local business.
Magneti Marelli, through its automotive-lighting division, and China South Industries Group, through its subsidiary Hubei Huazhong Photoelectric Science and Technology, agree to a 50-50 joint venture for the production of headlamps and taillamps for automakers in China. The JV will invest €40 million ($54.1 million) to form Hubei Huazhong Magneti Marelli Automotive Lighting, located in Xiaogan in Hubei province, and plans to launch production during first-quarter 2015. At full ...
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