Press release
238KB
febbraio 23, 2023 - ABT Sportline
ABT SE agrees on foundation of a joint venture in China and strengthens international positioning
Comunicato Stampa disponibile solo in lingua originale.
- Joint Venture “ABT Technologies (Guanghzou) Co., Ltd.” with strategic partner YOTTA Automobile (Guangzhou) Co., Ltd. in formation
- Expansion of #china business strengthens the ABT brand
- Development of refinement competence based on the needs of the Asian market
- Refinement of Chinese E-vehicles planned
- MoU with Chinese OEMs SOKON and GAC already entered into
The ABT Group, a leading internationally positioned technology-driven #automotive company in the fields of eMobility and refinement with a strong brand, has agreed to set up a Chinese joint venture under the name of "ABT Technologies (Guanghzou) Co., Ltd." YOTTA Automobile (Guangzhou) Co. Ltd. was gained as a strategic partner for ABT in #china and holds a 51% stake in the joint venture. YOTTA is a leading Chinese company in the field of #automotive digitalisation, electric vehicles and zero-emission energy solutions. The ABT Group subsidiary ABT Sportsline holds a 34% stake in the planned joint venture. Another partner is the renowned investor Dr Cornelius Boersch.
With the joint venture, the ABT Group is expanding its position on the attractive Chinese #automotive market and strengthening its comprehensive refinement expertise as well as the ABT brand on an international level.
The newly founded Chinese company is granted the exclusive right to sell refinement parts, co-branded vehicles and services under the ABT brand in #china. The focus is on VW Group models, especially Audi models, as well as the refinement of Chinese electric cars, among others. The ABT Group is thus creating synergies between the fast-growing eMobility sector and the classic refinement business. As part of the joint venture, ABT special editions are to be produced and sold in #china in cooperation with Audi (FAW). Furthermore, ABT Sportsline has already signed MoUs with the major Chinese OEMs SOKON Group and GAC Motor Co., Ltd. (Guangzhou) as part of its Chinese expansion. Together with these car manufacturers, ABT Sportsline is planning the production of high-quality special editions under the ABT brand for the Chinese market. According to the ABT Group's current planning, the joint venture is expected to generate a medium-term annual sales revenue potential in the three-digit million- euro range.
In this context, the ABT Group benefits from additional export opportunities to #china as well as income from licence fees. Through the integration of local partners, the joint venture also has a very positive cost-benefit impact for the ABT Group.
The joint venture is part of the strategy of ABT to further expand its global presence with a focus on Europe, the USA and Asia. Today, the ABT Group is already represented in over 60 countries worldwide with more than 900 ABT dealerships.
Hans-Jürgen Abt, CEO of ABT SE: "The joint venture in #china is a milestone in the #corporate history of ABT. The Chinese market is the largest market for passenger cars worldwide, and the growing Chinese middle class appreciates high-quality, individual cars. In addition, the expansion of our business in #china offers us the opportunity to further expand the strong ABT brand and our positioning as a technology leader in eMobility and fuel cells internationally. We are looking forward to establishing our brand, which stands for Made in Germany products, on an even more international level."
ABT China JV 1
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ABT China JV 5
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Dr.Cornelius Boersch 2
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G.K.vonJotta 4
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Hans-Jürgen Abt 3
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