Automation technology company ABB and Chinese automotive parts supplier HASCO have established a joint venture to further develop smart manufacturing in China’s automotive industry. The venture will build on the existing relationship between the companies and will develop flexible and sustainable auto parts manufacturing within HASCO’s China-based operations.
A production line of ABB robots. Courtesy of ABB.
The partnership includes a 40% stake by ABB in the joint venture, which will expand the use of smart technologies and AI within the industry. The joint venture is expected to begin in the second quarter of 2022. ABB will also open an advanced robotics factory in Shanghai in 2022, which will host an onsite research and development center.
Both parties agreed not to disclose further details about the investment.