Gestamp has entered a Joint Venture agreement with Beijing Hainachuan Automotive Parts Co. Ltd. to enhance its automotive component manufacturing presence in China.
Information on the Target
Gestamp is a multinational company that specializes in the design, development, and manufacturing of highly engineered metal components for the automotive industry. By signing a strategic Joint Venture (JV) Agreement with Beijing Hainachuan Automotive Parts Co. Ltd. (BHAP), a subsidiary of Beijing Automotive Industry Group Co., Ltd. (BAIC Group), Gestamp aims to strengthen its presence in China.
BAIC Group is the fifth largest automotive manufacturer in China and operates both locally branded vehicles as well as those produced for global companies like Daimler and Hyundai through various joint ventures. The successful execution of the JV is contingent upon approval from the Chinese regulatory body SASAC, along with other competition and governmental authorities.
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Industry Overview in China
The automotive industry in China has experienced unprecedented growth, positioning the country as the largest auto market in the world. Major automotive manufacturers, such as BAIC Group, operate a diverse array of joint ventures
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Gestamp
invested in
Beijing Hainachuan Automotive Parts Co. Ltd. (BHAP)
in 2018
in a Joint Venture deal
Disclosed details
Revenue: $720M