Preh GmbH and Joyson Automotive Electronic Holding Co. have signed a letter of intent to form a joint venture in Ningbo, a seaport in eastern China. The venture will develop, manufacture and market Preh's products.
The companies did not disclose their respective ownership stakes in the venture, expected to launch operations this year.
Preh, of Bad Neustadt, Germany, makes interior control systems, sensors, electronic control units and assembly systems. Joyson, of Ningbo, makes engine components, air registers and filter intake pipes.