Zhejiang Vie Science & Technology (SHE:002590) partnered with Huawei Technology to establish a joint venture in Morocco, according to a Shenzhen Stock Exchange disclosure on Wednesday.
The venture will have a registered capital of 100,000 Moroccan dirhams and will produce automotive parts.
The Chinese automobile parts manufacturer will invest 10.5 million euros and Huawei will inject 19.5 million euros into the venture's capital, owning 35% and 65% of the venture, respectively.
Zhejiang Vie's shares closed less than 3% higher.
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