Midea plans to move into NEV sector
Print Edition
Midea is to produce auto parts as the home appliance giant expands into the booming new-energy vehicle sector, the Shenzhen-listed firm said yesterday.
Technology giants Huawei, Xiaomi and Baidu recently announced similar plans to target the booming smart and electric car sector in China.
Midea’s subsidiary Welling is to start volume production of new products that include electronic water and oil pumps, electric compressors and electric power steering motors.
Through Welling, Midea has invested over US$100 million in the car-related business. Welling has produced air-conditioning compressors for vehicles and has been involved in auto parts research for several years.
Midea, one of China’s top two air-conditioner makers, has a market value of 540 billion yuan (US$83 billion).
Its experience in home appliances and air-conditioners can be adapted for the new-energy car sector, the company said. The new auto parts business represents business expansion in enterprise-oriented sectors, with car markets, digital factories and real property firms as clients.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
