German automotive supplier Huf Hülsbeck & Fürst signed a letter of intent in July with Shanghai’s vehicle components maker Baolong Automotive to form a joint venture on tire pressure monitoring systems (TPMS).
The official contract will be signed in September and tnew company, 55/45 owned by Baolong and Huf Group, will be launched in January 2019, said the press release..
It will combine the former’s TPMS unit with 400 employees in Shanghai and Wuhan.
