Brembo and Gold Phoenix signed a 50/50 Joint Venture agreement (subject to the local and antitrust usual fulfilments) establishing a new company, Shandong BRGP Friction Technology Co., Ltd., to create the first large-scale Brembo manufacturing facility fully dedicated to produce innovative aftermarket pads, the companies say.
The newly formed company will focus on superior product quality and innovation, especially in terms of performance, comfort, durability and sustainability, with the aim of anticipating the challenges of electrification and autonomous driving, the companies add.
The Joint Venture will serve the segments of passenger cars, light commercial vehicles and heavy-duty trucks, leveraging on new opportunities arising from a growing market.
“We have entered into a strategic and long-term partnership with a leader in high-tech braking friction products to further improve the vertical integration of our solutions,” said Roberto Caravati, Brembo Aftermarket COO. “With this Joint Venture, Brembo will enjoy an even stronger positioning in the aftermarket segment, seizing new opportunities thanks to a more effective development of pads, in line with our mission of being a solution provider. All this to the benefit of our partners across the value chain and all car enthusiasts who choose to rely on our brand for top quality and performance.”