Magna China Sets Up Seat Joint Venture to Strengthen China's Market Position
At the end of November 2015, Magna International and Chongqing Hongli Zhixin Automotive Parts Manufacturing Co., Ltd. announced the establishment of a 50:50 joint venture company to provide automotive entire chairs and components for Changan Ford and other customers in China.
Magna China set up a seat joint venture
Hongli Zhixin is an independent independent seat supplier with a competitive edge in terms of foam, face sleeve and skeleton in China. The company’s factory in Harbin and two production projects will be incorporated into the joint venture company. Hongli Zhixin Magna is headquartered in Chongqing, China.
Through deep vertical integration and faster response, the joint venture company can better understand customer needs and market expectations, provide competitive products, and greatly strengthen Magna's position and influence in China's seat business.
Mike Besson, President of Magna's Seating Division, said: "The company's seat industry in Hong Kong has an irreplaceable position and is our strategic partner in China. Magna's expertise in the global seating industry The organic combination of knowledge and Hongli-Xin's deep understanding of the Chinese market will bring a unique value concept and provide a constant source of motivation for both parties' future development."
Wang Lianlian, Chairman of Hongli Zhixin stated: "By combining the advantages of Hongli Zhixin with Magna's global layout and first-class manufacturing capabilities, I believe that our joint venture will provide better value services for our customers and further Support customers' development in China."
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