Lear, Shinry Form JV For Onboard Vehicle Chargers

Lear Corp LEA has signed an agreement to establish a joint venture with Shinry Technologies Co Ltd, a China-based supplier of electronics for electric vehicles. The financial terms of the deal were not disclosed.
Located in Shenzhen, China, the joint venture will integrate portfolios of advanced onboard vehicle chargers and next-generation multi-function integrated power modules from both companies to serve a range of regional and global automakers.
The company expects completion of the approval and registration of the joint venture within the fourth quarter of 2021.
Price Action: LEA shares traded higher by 1.11% at $173.76 on the last check Monday.

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