Marelli to acquire stake in Shanghai Highly New Energy Technology
MARELLI, Highly Group to form JV to operate the business currently owned by MARELLI for compressors and HVAC
MARELLI has entered into a strategic partnership with China-based Shanghai Highly Group, the company said in a press release on 30 August. Under the partnership, MARELLI has reached an equity transfer agreement to Johnson Control-Hitachi Air Conditioning (JCH) to acquire stake in Shanghai Highly New Energy Technology (HNET), a joint venture between JCH and Highly Group. The JV, formed in 2016, supplies electric drive compressors (EDC) for hybrids and electric vehicles.