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Daily Newsletter

14 December 2023

Daily Newsletter

14 December 2023

Brose/HASCO China JV renewed

Original shareholding of 60% and 40% to continue

Graeme Roberts December 13 2023

Brose and HASCO have renewed the contract for their joint venture Shanghai Brose Automotive Components for another 25 years.

In 1999, Brose and STEC, a subsidiary of HASCO, established a joint venture to set up Brose's first production bases. Since then, the company has produced 90m products for national and international car manufacturers.

Around 320 employees develop and manufacture door modules, window regulators, seat structures, cooling fan modules and latches.

Brose and HASCO will continue with the original shareholding of 60% and 40%.

The company plans to boost product development capability for power liftgates and cooling fan modules.

Smart parking market expected to grow at a CAGR of 13.2% by 2030

Urbanization and population growth are the major drivers of the smart parking market as they have a significant impact on parking demand, traffic congestion, and the need for efficient urban infrastructure. Smart parking systems assist in optimizing the use of current parking facilities by providing real-time information on available spaces and decreasing the time and effort spent looking for parking.

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