Chinese automaker Chery has announced that it will set up a joint venture with a U.S.-based Johnson Controls Inc to produce automotive interiors in China.The joint venture, to be located in Wuhu, in East China's Anhui Province, will be equally funded by Chery Automobile Co., Ltd. And Johnson Controls Inc.
Xinhua reports that Yin Tongyao, chairman and general manager of Chery, said his company will acquire technical know-how from the American company in order to improve its auto parts supply system and make its vehicles more competitive in international markets.
