Foto: ABT

Joint venture agreement in China: ABT Group further strengthens international position in electric car market

The ABT Group, a leading technology-driven automotive company internationally positioned in the field of eMobility and refinement, has agreed to establish a Chinese joint venture under the name “ABT Technologies (Guangzhou) Co., Ltd. YOTTA Automobile (Guangzhou) Co. Ltd. has been won as ABT’s strategic partner in China and holds a 51% stake in the joint venture. YOTTA is a leading Chinese company in the field of vehicle digitization, electric vehicles and zero-emission energy solutions. The ABT Group subsidiary ABT Sportsline holds a 34% stake in the planned joint venture. Another partner is the renowned investor Dr. Cornelius Boersch. With the joint venture, the ABT Group is expanding its position in the attractive Chinese automotive market and strengthening its comprehensive tuning competence as well as the ABT brand on an international level.

The newly founded Chinese company receives the exclusive right to sell tuning parts, co-branded vehicles and services under the ABT brand in China. The focus is on VW Group models, especially Audi models, as well as the refinement of Chinese electric cars, among others. The ABT Group is thus creating synergies between the high-growth eMobility sector and the classic tuning business. As part of the joint venture, ABT special editions are to be produced and sold in China in cooperation with Audi (FAW). Furthermore, ABT Sportsline has already signed MoUs with the major Chinese OEMs SOKON Group and GAC Motor Co., Ltd. (Guangzhou) as part of its Chinese expansion. Together with these car manufacturers, ABT Sportsline is planning the production of high-quality Special Editions under the ABT brand for the Chinese market. According to the ABT Group’s current planning, the joint venture is expected to generate medium-term sales potential in the annual triple-digit million euro range.

The joint venture is part of ABT’s strategy to further expand its global presence with a focus on Europe, the USA and Asia. Today, the ABT Group is already represented in over 60 countries worldwide with more than 900 ABT dealerships.

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23.02.2023   |  

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