Lear Corp. in Southfield, an automotive seating and e-systems supplier, today announced it has agreed to establish a joint venture with Shinry Technologies Co. Ltd., a Chinese Tier 1 supplier of electronics for electric vehicles, to produce onboard vehicle chargers.
Located in Shenzhen, China, the joint venture will integrate complementary portfolios of advanced onboard vehicle chargers and next generation multi-function integrated power modules from both companies to serve a broad range of regional and global automakers.
Approval and registration of the joint venture is anticipated within the fourth quarter of 2021, and the new management team is expected to be finalized this year.
“This joint venture supports our strategy of identifying products where we can leverage our core capabilities to grow our business in the electric vehicle segment,” says Doug Brandt, global vice president of electronics at Lear. “Together, Lear and Shinry offer expanded capabilities to meet the requirements for world-class design and performance, cost competitive products, and high-quality manufacturing facilities.”
Founded in 2005, Shinry operates R&D centers in Shenzhen and Wuhan, and operates facilities in Shenzhen with an additional location planned in Shanghai.
“Shinry’s extensive research and development innovations provide electric vehicles with more intelligent onboard charging solutions,” says Renhua Wu, chairman and general manager of Shinry. “This agreement with Lear is one more manifestation of Shinry’s Brand Upward strategy, as Shinry has delivered millions of units after many years of mass production. The agreement will result in advantages and a win-win for both parties and contribute to the global realization of more sustainable mobility.”
Sng Yih, vice president of Asia e-systems at Lear, says, “Onboard chargers efficiently convert incoming alternating current from a charging station into direct current stored in a vehicle battery, playing an essential role in electric vehicles by reducing charging time and increasing driving range. Different vehicles have different specifications for onboard chargers. By partnering with Shinry, we are broadening our extensive suite of advanced onboard chargers.”