Varroc Group has announced their acquisition of the Visteon equity interest in its China-based lighting joint venture, Visteon TYC Auto Lamps Co., Ltd. TYC Brothers Ltd of Taiwan will remain the 50pc partner in the new entity, named Varroc TYC Auto Lamps Co., Ltd. Tarang Jain, Managing Director, Varroc Group speaking about the new venture said, “I am pleased with the acquisition completion. The transaction completes an important step in our strategic plan to focus on our core businesses and expand our footprint into China, the world’s largest automotive market.” Varroc Group’s China entity will be part of Varroc Lighting Systems which was recently formed after Varroc Group’s acquisition of Visteon’s global automotive lighting business. This purchase price for equity stake of VTYC, on a cash-and debt-free basis, was approx. US$ 20 million. The deal includes manufacturing and engineering facilities in Changzhou and Chongqing.
BorgWarner has clinched an agreement with a major North American OEM to supply its bi-directional 800V Onboard Charger (OBC) for the automaker’s premium passenger vehicle battery electric vehicle (BEV...
Uno Minda, a leading tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs), has unveiled an innovative range of side stand sensors and switches that use advanc...
As the adoption of electric vehicles (EVs) continues to grow, Honeywell has created innovative solutions to address safety concerns across the spectrum of EV manufacturing and use.