Novi’s Maxion Wheels today announced an agreement to form a new passenger car aluminum wheel joint venture with Dongfeng Motor Parts and Components Group, one of China’s largest automotive parts companies. The new entity, Dongfeng Maxion Wheels, will build a plant in Hubei Province in the central area of China.
The plant will have a 2-million-per-year capacity with series production scheduled for the second half of 2020.
“Growing our presence in Asia is one of Iochpe-Maxion’s priorities,” says Marcos Oliveira, president and CEO of Iochpe-Maxion S.A. “Coupling Maxion Wheels’ global customer relationships and significant aluminum wheel expertise with Dongfeng Motor Parts and Components’ goal to expand its portfolio to include light vehicle aluminum wheels is the makings of a strong partnership. We are honored to join Dongfeng’s strong and dynamic organization and, through our joint venture, provide world-class aluminum wheels for our global and domestic Chinese OEM customers.”
Iochpe-Maxion S.A. is Maxion Wheels’ parent company.
The venture is expected to bring more than 450 new jobs to the region and will produce low pressure die cast aluminum wheels. A groundbreaking is expected to be announced soon.
Maxion creates wheels for cars, light trucks, buses, commercial trucks, trailers, agriculture technology, and other off-highway applications. It produces nearly 60 million wheels per year, making it the world’s largest wheel manufacturer, has more than 100 years of wheel-making experience, and has 10,000 employees globally.
Dongfeng Motor Parts and Components Group Co. specializes in research and development and manufacturing and sales of auto parts including chassis systems, cabin and body systems, electric drive systems, braking and intelligent driving systems, powertrain systems, thermal management systems, and lightweight technologies. The company is a subsidiary of Dongfeng Motor Co. and has 14,000 employees.