Source: Haldex announcement
LANDSKRONA, Sweden — Haldex and FAST Group agreed to form a joint venture (JV) company to produce and sell air disc brakes (ADB) including aftersales services for truck and bus with primary focus on the Chinese market.
Owning and/ or joint ownership of more than 10 subsidiaries globally, FAST Group is the market leading Chinese manufacturer in the commercial vehicle components industry.
Haldex Extends Disc-Brake Deal with Gigant
The objective of the new JV is to launch a complete range of Haldex ModulT Air Disc Brakes for trucks and buses, using Haldex’s innovation, IP and technology to leverage FAST Group’s strong market position in China.
Haldex and FAST Group formed this JV-agreement after a period of close dialogue and collaboration, including extensive testing and multiple market feasibility studies. The parties have excellent strategic and industrial fit and joint strong ambitions.
The ADB market in China is expected to grow significantly in the coming years due to regulatory requirements driving increased vehicle safety.
“Entering the ADB market for trucks and buses in China and Asia is a significant milestone and potential game-changer for Haldex,” said Helene Svahn, President and CEO of Haldex. “With market leading FAST Group, we will address an attractive emerging market with large potential. Haldex’s ModulT is an innovative Air Disc Brake fully aligned with the new Chinese regulatory framework.”
“This joint venture shows our determination to establish an innovative and high quality ADB manufacturer in our markets,” said Yan Jianbo, President of FAST Group. Haldex is known for their innovative and high-quality brake systems. “FAST has great influence in the commercial vehicle industry, and strong research and development, manufacturing and validation capabilities.
“Together we have the potential to create a market leader on the world’s largest truck market.”
The JV will prepare for production in Xianyang in China during the autumn of 2021 and will be ready for market launch in 2022.