Luxshare-ICT has completed its acquisition of BWI, becoming the company’s 100% owner following a share transfer ceremony in Shanghai on October 9, according to a post on BWI's WeChat account. The transaction was completed by BWI’s former controlling shareholder, Zhangjiakou Industrial Investment Holding Group Co., Ltd., with all three parties announcing the completion of the acquisition.
Image Source: BWI
Key Takeaways
BWI, a global Tier 1 supplier of automotive chassis technologies, is now wholly owned by Luxshare-ICT. The integrated business covers three major chassis systems: suspension, braking and steering.
The integration is intended to strengthen the combined company’s capabilities as a Tier 1 supplier of intelligent chassis technologies and its system integration capabilities.
Following the integration, the combined business has eight technology R&D centers, seven production sites and two test facilities across four major automotive regions: China, Europe, North America and South America.
What to Watch Next
As integration progresses, Luxshare is expected to further strengthen its overall position in the automotive chassis sector.
