Brembo has today announced that it has signed a 50/50 Joint Venture agreement with Gold Phoenix, 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 newly formed company will bring together Brembo’s leadership in braking systems with Gold Phoenix’s high-tech friction solutions and it 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 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.
Shandong BRGP Friction Technology Co., Ltd is expected to start operations in early 2023 in Jinan, the capital of Shandong province in Eastern China.
The overall investment from both companies is approximately €35 million over the next three years.