Metal stamper Gestamp has signed a memorandum of understanding (MoU) with Beijing Hainachuan Automotive Parts.
The agreement aims to increase cooperation in areas such as electric vehicles as well as reinforce the existing strategic relationship between both companies.
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BHAP is a subsidiary of the BAIC Group, one of the biggest car manufacturers in China, with JV deals with Daimler's Mercedes-Benz and Hyundai Motor.
The supplier said the MoU would strengthen its position in China "by increasing its scale to better serve both local and international OEMs based in China". The alliance would enhance capabilities in China, a strategic market because it is the world's largest vehicle manufacturing hub.
Gestamp and BHAP started relationships by entering into a joint venture which started operations in November 2018.
Gestamp has also signed an MoU with Liuzhou Wuling Automobile Industry to "leverage their competitive advantages and resources to cooperate in body-in-white, chassis and in new products within the Guangxi Zhuang autonomous region".
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By GlobalData"These strategic agreements are a step forward and reinforce our strategy in China, a country that is playing a significant role for the future of the automotive industry, leading the development of electric vehicles as well as other trends," Gestamp chairman Francisco Riberas said.
Gestamp claims its leadership in hot-stamping technology enables it to supply lower weight steel body structures that help car manufacturers meet increasingly stringent emissions regulations in the case of internal combustion engines and counteract the increase in weight from the batteries in the case of EVs.
