Zhejiang Founder Motor and Bosch Partner to Establish Joint Venture for High-Performance Magnetic Drive Systems

Stock News08-10

Zhejiang Founder Motor Co.,Ltd. (002196.SZ) has announced a strategic collaboration to establish a new joint venture.

The company will partner with several entities, including its indirect controlling shareholder's subsidiary, Deqing Caichuang Phase I Equity Investment Partnership (Caichuang Phase I), as well as Robert Bosch Internationale Beteiligungen AG (RBINT) and Bosch (China) Investment Ltd. (RBCN, collectively referred to as Bosch), plus Jiangsu Bozhong Intelligent Technology Group Co., Ltd.

The partners will jointly invest a total of RMB 39 million to create Zhejiang Leku Technology Co., Ltd. (a provisional name, subject to regulatory approval).

The primary objective of the joint venture is to introduce foreign capital, advanced technology, and management expertise to provide high-quality products and services within the Chinese domestic market, ultimately serving the best interests of shareholders and generating optimal economic returns.

The venture will focus on developing high-performance magnetic drive transmission systems. For Zhejiang Founder Motor, this initiative is expected to generate potential investment income while also creating operational synergies, as the company will supply the necessary electric motors for the systems produced by the joint venture.

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