Magna and Hongli Zhixin team on China seating JV
Magna and Chongqing Hongli Zhixin Automotive Parts Manufacture have inked a 50/50 joint-venture agreement to provide complete seating systems and seating components to Changan Ford and other customers in China.
Hongli Zhixin is an independent seating supplier in China with capabilities in foam, trim and structures, as well as established OEM customers. It will bring a manufacturing facility in Harbin and two production programmes to the JV, while a Hongli Zhixin-Magna headquarters will be located in Chongqing.
"Hongli Zhixin, with their strong position in the Chinese seating market, represents a strategic partner for us in China," said Magna Seating president, Mike Bisson.
"The combination of our global seating expertise and their knowledge of the Chinese market delivers a value proposition that ultimately positions both companies for future growth opportunities."