Haldex and VIE Science and Technology has entered into a joint venture agreement with the aim of designing, developing, producing and selling electromechanical brake systems for commercial vehicles with an initial focus on the electrical bus market in China.

According to the agreement Haldex and VIE will set up a joint venture where the parties own 50 % each. The joint venture company will operate under the name Haldex VIE (Kina) Electro Mechanical Brake Systems Co, Ltd, and be based in Shanghai, China.

Haldex is based in Sweden, but the company operates globally and has offices in 18 countries. Haldex develops and provides reliable and innovative solutions that improve safety, vehicle dynamics and environmental sustainability in the global commercial vehicle industry. The company has approximately 2 200 employees and a turnover of around SEK 4.8 billion. The company's shares are listed on Nasdaq Stockholm.

Haldex has been advised by Mannheimer Swartling in the transaction. The firm's team was led by Lucas Jonsson, primarily assisted by Jessika Olsén, Rachel Dong, Simon Shi and Daria Yan.