Recently, Ningbo Huaxiang announced that the company and Jiangling Group agreed to establish a joint venture in Nanchang, Jiangxi Nanchang Huaxiang Automotive Components Co., Ltd., with a registered capital of 50 million yuan. The two parties each contributed 25 million yuan in cash and held 50% of the equity of the joint venture respectively. According to the announcement, the joint venture company is mainly engaged in the production and processing of automobile parts such as dashboards, door panels, central passages, A/B/C decorative pillars, front and rear bumpers, wheel eyebrows, sinks, grilles, spoilers, etc. After this joint venture, when Ningbo Huaxiang purchases products of the joint venture company's business scope from outside the designated area, it prefers the joint venture company as its supplier. Jiangling Group will urge its existing and future vehicle companies to give preference to joint venture companies as its suppliers. Jiangling Group is headquartered in Nanchang, Jiangxi Province. The market share of commercial vehicles in China reached 5.38% in 2013, ranking the 6th among commercial vehicle manufacturers in 2013 in China. Jiangling Group owns six major vehicle manufacturing bases. The vehicle products cover commercial vehicles, passenger cars, special vehicles and new energy vehicles. Ningbo Huaxiang Electronics Co., Ltd. is a company specialized in R&D, production, sales and after-sales service of auto parts. It was established in 2001. At present, the company has 15 controlled subsidiary companies, which are mainly distributed in the northeast, Shanghai, Ningbo, and Jiangxi regions. The number of employees is nearly 5,000. The company is one of the major component suppliers of domestic automakers such as Shanghai Volkswagen, Shanghai Automotive, FAW-Volkswagen, Shanghai GM, and Tianjin FAW Toyota. The main products include automotive interior and exterior trims, automotive chassis accessories, automotive electrical and air-conditioning accessories, automotive engine accessories, car muffler, etc., mainly used in engine attachment systems, chassis systems, electrical and air conditioning systems, interior and exterior trim systems. The main supporting models include "Pasat New Collar", "Tivoguan", "Lang Yat", "Audi Q5", "Audi A6", "Sagitar", "Golf A6", "Skoda", "New Regal", "Roewe", " Crown, Reiz, Corolla, Scorpio, Mazda, Santana, Jetta, Pentium, etc. Ningbo Huaxiang announced that this joint venture with Jiangling Group will further strengthen the cooperative relationship between the two parties and further improve Ningbo Huaxiang's domestic production layout, laying a good foundation for expanding new core customers and improving customer structure. Yue Yafeng JIANGMEN PRO-TAYLOR REFRIGERATION CO., LTD. , https://www.protaylor.com