Chinese, German auto firms sign co-op deal
Updated: 2012-07-07 15:33
SHIJIAZHUANG -- One of China's major privately owned automakers, Great Wall Motors, has signed a strategic cooperation agreement with German auto parts supplier, Hella KGaA Hueck & Co, sources from Great Wall Motors said on Saturday.
The two sides will strengthen cooperation in the field of auto electronic modules and controlling modules, as well as lighting technology, sources with the two companies said.
Developing products in accordance with the laws and regulations of the European Union, Great Wall Motors can maintain high competitiveness in its products, said Huang Yong, vice-president of Great Wall Motors.
"We launched technology cooperation with this international high-end auto components company, so as to satisfy the higher demands for our products in the future," Huang added.
Working with Great Wall Motors will further deepen exchange between the two companies. And Hella will provide competitive technology and services for its partner, and jointly develop the auto industry, said Jan Monnekemeyer, vice-president of Hella in China.
Originally a pick-up truck maker, Great Wall Motors has expanded its product line to sports utility vehicles, buses and sedans. The company went public on the Hong Kong Stock Exchange at the end of 2003 and was listed on the Shanghai Stock Exchange in September 2011.
Hella is one of the world's largest companies producing and selling automotive parts, with branches in more than 70 cities in over 30 countries across the world.
It has 10 manufacturing, R&D and administration sites in China, employing more than 4,000 people.