(Yicai Global) June 15 -- China's DEMC Automotive Equipment Manufacture will set up a joint venture with Han's Laser Technology Industry Group to develop automotive robot tech.
The pair will make laser beam welding robots under the JV with a registered capital of CNY200 million (USD31 million), the Shenzhen province-based laser tech firm said in a statement. Shanghai-based DEMC plans to contribute CNY70 million which covers 35 percent of the registered capital, while Han’s laser is going to contribute CNY130 million, 65 percent of the total.
The chairman and the financial administrator will be appointed by the laser company, while the general manager will be recommended by the auto machinery firm. Regarding intellectual property rights, DEMC will be the one to offer licenses for eventual buyers.
DEMC's current clients include international and Chinese automakers General Motors, Volkswagen, BAIC Group and SAIC Motor.
Editor: Emmi Laine