After the deal, SIIC Transportation will not be its shareholder any more.
Main productsElectric Motors, Electrical Appliances, Electrical and Electronic Components
Main productsDriving Assistance & Interior Electronics Environment Sensors: Ultrasonic Sensors, Cameras, Thermal Cameras, Medium- and Long-Range Radars, Imaging Radars, LiDAR Sensors Driving Assistance Systems: Parking Assistance Systems, Automated Driving Assistance Systems Compute Units: Zone Controllers, Domain Controllers, Central Computing Units, High-Performance Processing Units Cabin Monitoring: Driver Monitoring Systems, Interior Monitoring Systems, Life Presence Detection Systems Displays & Human-Machine Interfaces: Head-Up Displays, AR-HUD, P-HUD,Automotive Displays, Curved Wide Displays, Steering Wheel Control Modules, Dome Modules Connectivity: Telematics Control Units Body Electronics: Window Lifters, Steering Wheel Switches, Torque Sensors Software: Perception Software, Vehicle Control Software Powertrain & Electrification Low-Voltage Hybrid Systems: 12V Hybrid Systems, 48V Hybrid Systems High-Voltage Electrification Systems Electric Motors Generators Transmissions: Electric Drive Gear Reducers Clutch & Transmission Systems Powertrain Sensors & Actuators: Gear Shift Actuators, Exhaust Gas Temperature Sensors Charging & Power Electronics: Onboard Chargers, Inverters, DC/DC Converters Electric Axles Thermal Management Battery Thermal Management: Refrigerant Battery Coolers, Liquid Battery Coolers, Battery Cooling Plates Coolant Management: Coolant Control Modules Front-End Thermal Management: Front-End Modules, Radiators, Heat Exchangers, Fan Systems, Active Grille Shutters Battery Casings Cabin Thermal Management Systems Automotive Lighting Front Lighting Systems: Headlamps, Adaptive Front Lighting Systems, High-Definition Front Lighting Systems Rear Lighting Systems: Rear Combination Lamps, Rear Signalling Systems Car Body Lighting Interior Lighting Wiper & Cleaning Systems Windshield Wiper Systems Rear Window Wiper Systems Wiper Motors Sensor Cleaning Systems: Camera Cleaning Systems, Other ADAS Sensor Cleaning Systems
Shanghai (Gasgoo)- Shanghai SIIC Transportation Electric Co., Ltd. (STEC), a subsidiary of China’s automotive parts supplier Huayu Automotive Systems Company Limited, signed a stake transfer agreement with VALEO INTERNATIONAL HOLDING B.V., Huayu announced on Monday.
Per the agreement, STEC will sell its 27% stake in Valeo Shanghai Automotive Electric Motors & Wiper System Co., Ltd. at a price of RMB397,955,733.48 ($62,479,050) to VALEO INTERNATIONAL HOLDING, which is a wholly-owned subsidiary of global automotive parts supplier VALEO S.E.
Photo credit: Huayu
Valeo Shanghai Automotive Electric Motors & Wiper System Co., Ltd. was established in 1995 with a registered capital of $15.51 million, according to China’s company data platform Qichacha. Its two shareholders, VALEO INTERNATIONAL and SIIC Transportation held a respective stake of 73% and 27%. So after the said deal, SIIC Transportation will not be its shareholder any more.
The wiper company mainly develops and produces wipers and relevant components, with clients including SAIC Volkswagen, SAIC GM, FAW Volkswagen and Changan Ford. In 2020, the wiper company’s revenue amounted to RMB1.37 billion ($215.1 million) while net profit totaled RMB66 million ($10.36 million). In the first ten months of this year, its unaudited revenue was RMB1.03 billion ($162 million) while profit in the period was RMB65 million ($10.2 million).
China’s SAIC Motor is the largest shareholder of Huayu Automotive Systems Company with a stake of 58.32%.
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