Haldex and VIE announce joint venture to develop electromechanical brake systems
Haldex (XSTO: HLDX) and Zhejiang VIE Science and Technology Co., Ltd. (VIE) (SZSE: SZ002590) today announced a joint venture to design, develop, produce, and sell electromechanical brake systems for commercial vehicles with an initial focus on the electric bus market in China.As manufacturers and governments seek solutions to combat climate change, China is seen as taking a global lead in the market for fully electric commercial vehicles. Electromechanical brakes is expected to be a fast growing niche within this market, especially supported by the recent strong development of the electric