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Sanhuan Electric successfully signed a joint venture cooperation agreement in Malaysia

Release time：2018-10-11

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On October 10, Wang Hanrong, chairman and general manager of Sanhuan Electric, signed a joint venture and cooperation agreement with Dato' Zheng Wenji, executive chairman of Malaysia's Liluo Group. Malaysia's Perak State Minister Ahmafayisha, Tanjung Marin MP Zheng Likang, Perak State Development Authority (PKNP) Investment Commissioner Datuk Slimohamnicha, Proton Chairman Datuk Seri Sayiza, Geely Proton General Manager Li Chunrong, as well as Malaysian government officials and Geely Proton executives attended the signing ceremony to witness the birth of the joint venture. This is the third joint venture company, the second Sino-foreign joint venture company and an overseas company built by Sanhuan Electric in recent years. It is also the first batch of Chinese-funded auto parts companies to invest and cooperate to build factories in Malaysia, which opened the curtain of Sanhuan Electric's "going global" internationalization strategy.

Sanhuan Electric thoroughly implements the development policy of "adjusting structure, upgrading level, and internationalization", actively responds to the development strategy of "Belt and Road Initiative", seizes the development opportunities of Malaysia's Geely Proton project, and makes use of ASEAN preferential policies to speed up the pace of international development. joint venture and cooperation with Malaysia Liluo Industry (Malaysia) Co., Ltd.

The Malaysian auto market has an annual sales volume of about 500000 vehicles. Proton is a Malaysian mainframe auto manufacturer. Geely and Proton are a joint venture with a planned annual output of 400000 vehicles. Complete vehicles are exported duty-free in ASEAN, with an annual output of about 4 million vehicles in ASEAN. Sanhuan Electric Co., Ltd. is equipped with a number of products such as all-vehicle switches, handles, ignition locks, fuel filler boxes, rearview mirrors, etc. in Geely Proton cooperative models, and radiates to the ten ASEAN countries based in Malaysia.

Liluo is a local manufacturer of auto parts in Malaysia, and the joint venture is controlled by Sanhuan Electric. Sanhuan Electric will use its advanced technology to build the joint venture company into a right-hand vehicle parts R & D and production base and a bridgehead for the ten ASEAN countries, share the dividends of the "Belt and Road" development strategy, accelerate the process of internationalization, and move forward into the development of the automobile economy. New era.