Jinzhou Halla Electrical Equipment (JHEECO), a wholly owned subsidiary of the Chinese Wonder Auto Group, has acquired the electromobility business from the thyssenkrupp-group by way of an asset deal. Founded in 1966, JHEECO is one of the main Chinese manufacturer of electronic products for the automotive industry and produces in particular electric generators and starters for automobile manufacturers.
In the thyssenkrupp-group, the electromobility business was mainly managed by teams in Liechtenstein and Hungary and in particular included research and development activities. The key intellectual property rights were owned by the thyssenkrupp-group parent company in Germany. The assets related to the electromobility business were spun-off from the thyssenkrupp-group and transferred to a newly incorporated Swiss company.