Brilliance China Automotive's (HKG:1114) subsidiary Shenyang JinBei Automotive Industry Holdings agreed to form a joint venture with TCL Hengshi Tianrui Investment (Ningbo) for the development and manufacturing of the intelligent cockpit and display assembly business in China.
The parties will commit a capital of 1.4 billion yuan for the JV, with each party contributing half. Likewise, the JV will be owned 50% by each party, a Tuesday Hong Kong bourse filing said.
The JV will principally be engaged in the development of artificial intelligence software, provision of cloud computing equipment technical services, intelligent manufacturing solutions sales, automotive software, hardware, and electronic components among other things.
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