May 22 (Reuters) - Italian brake maker Brembo BRBI.MI will form a joint venture with Ningbo Huaxiang Electronic (NBHX) 002048.SZ, a Chinese automotive components maker, to localise its Sensify intelligent braking platform for the Chinese market, the companies said on Friday.
The deal marks Brembo's latest push into China following a recent start of production for a leading global manufacturer and new customer contract signings.
Brembo's shares in Milan rose up to 9.2% after the announcement
"China is the world's most dynamic and innovative automotive market" - Brembo CEO Daniele Schillaci
"The rapid development of advanced autonomous driving and intelligent chassis technologies is bringing unprecedented opportunities to the industry chain" - NBHX Chairman Zhou Xiaofeng
The joint venture is subject to customary regulatory approvals before closing
Bergamo-based Brembo first presented Sensify in 2021 as a pioneering braking system that can operate independently on each of a vehicle's four wheels
It is a fluid-free, by-wire intelligent braking platform built to integrate into software-defined vehicle architectures
NBHX's clients include Volkswagen VOWG.DE, BMW BMWG.DE, Ford F.N, General Motors GM.N, Mercedes-Benz MBGn.DE and Toyota 7203.T
Brembo supplies Tesla TSLA.O, Ferrari RACE.MI and Stellantis' STLAM.MI premium Maserati brand
(Reporting by Romolo Tosiani; Editing by Milla Nissi-Prussak)
((romolo.tosiani@tr.com))