South Korean auto parts manufacturer HL Mando has launched a new venture with China’s Tianrun Industrial Technology to make parts for commercial vehicles.
According to local reports, the two companies have established a new joint venture in China, Tianrun Mando, which produces electric power steering for commercial vehicles.
Tianrun is said to have invested CNY60 million ($8.3 million) for a 60% stake in the new company, while HL Mando’s 40% investment was valued at CNY40 million and included the supply of product and production technology.
The joint venture was scheduled to complete construction of a new factory in Shandong province to produce electric power steering systems (BN-EPS) for truck and bus manufacturers in 2026, before expanding into exports.
BN-EPS are considered next-generation electric steering systems because they consume energy only on demand, helping to reduce emissions and fuel consumption.
HL Mando, part of South Korea’s HL Group (formerly Halla Group), produces a wide range of automotive chassis systems, including braking, steering and suspension systems, as well as electric vehicle systems, autonomous driving systems, electronics and software.
Tianrun mainly produces parts for internal combustion engines under the Tian brand, including crankshafts, connecting rods and other forged and cast parts for commercial vehicles.
“HL Mando Forms Power Steering JV” was originally created and published by Just Auto, a brand owned by GlobalData.
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