Maxion Wheels, which is one of the largest manufacturers of wheels in the world has announced its decision to form a joint venture with Dongfeng Motor Parts and Components Group. Dongfeng Motor Parts and Components Group is one of the largest manufacturers of automotive parts in China and the new joint venture company named Dongfeng Maxion Wheels will be engaged in the manufacture of aluminum wheels for passenger cars.
The plan is to build a new factory in the Hubei province of China that will manufacture 2 million wheels on an annual basis. The plant is slated to commence series production by the second half of 2020.
Commenting on the development, Marcos Oliveira, president and CEO of Iochpe-Maxion S.A., which is the parent company of Maxion Wheels said that one of the company’s priorities is to grow its presence in Asia. While Maxion Wheels will bring its global relationships with customers and its significant expertise in aluminum wheels to the partnership, Dongfeng Motor Parts and Components will be able to attain its goal of expanding its range of products to include light vehicle aluminum wheels.
He went on to express his hope that through this partnership, Maxion Wheels would be able to provide world-class aluminum wheels to its global and domestic Chinese OEM customers.
It is expected that the new joint venture operation would create at least 450 new jobs in the region. The factory will make low-pressure, die-cast aluminum wheels, which will include wheels with high-end wheel finishes, and other innovative wheel features.
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