A company from China entered the Sollers project for the production of automotive components.
China's Hefei Hengyi International Trade Co., Ltd received 49% in Security System Components LLC, a subsidiary of Sollers. This is due to the United State Register of Legal Entities. The share of the latter decreased to 49%, another 2% was received by Pavel Yachnikov, deputy CEO of JAC Automobile, which develops the commercial transportation business of the Chinese car manufacturer JAC.
Sollers reported that it has attracted Hefei Hengyi International Trade to manufacture to develop a wide range of electronic modules and control units for cars. They emphasized that the inclusion of a partner among the participants in the venture will ensure the transfer of knowledge and intellectual property rights to Russia with the subsequent development of their own solutions in the field of car electronics. The manufacturer did not disclose additional parameters of the deal.
Hefei Hengyi International Trade, according to open sources, specializes in the export and import of goods from the automotive industry. between the partners -. JAC Motors, with whom Solares also cooperates.
Solares has previously attracted Chinese partners to the capital of its subsidiaries. Thus, earlier this year Hefei Hualong Mold, which produces molds for the automotive industry, received 20% in Stamp Technologies LLC. The market has noticed that such deals are usually non-monetary: transfer of technology in exchange for a share plus dividends. Thus, Solars acts as a seller of market access and production capacity, and the Chinese partner pays for it in technologies and future participation in profits.