MILAN, Jun 5 (Class Editori) – The new Italy-China automotive JV between Tm Performance and the NMIC Industrial Fund – specialized in technology – could be seeing the light by as soon as the end of summer.
The agreement looks at the Chinese market, and aims at joining the power of the Chinese financial vehicle led by Yi Kun, and managed by CEO Zhang Yang, together with the know-how on offer on the side of the Italian automotive company, specialized in the production of precision and underbody components as well as braking systems for racing cars. Yet, sources report no delocalization will be taking place.
These last few days, an NMIC delegation has been visiting Italy for meeting their partner, followed by Prior Consulting. Their trip wasn't confined to a tour of the Emilia-Romagna region (where Tm Performance is based), but included a stopover in Avellino, were NMIC is looking at starting a collaboration with the Sapa di Arpaia Group, specialized in plastic components.
The fund focuses on investments in high-tech manufacturing, artificial intelligence, the pharmaceutical industry and medical-health research. Chairman Yi Kun was recently included in the top ten most innovative businessman in the country.
Among the partnerships in China there are investments in Nio – Tesla's Chinese rival in the electric car sector – and Youxia Motors, another unicorn, that is another start-up worth over a billion in value, active in electric mobility. And it is precisely in the growth of sustainable mobility that, as a financial source explains to Class Editori, the Chinese funds, in talks with counterparties, are intensifying the search for European partners for possible joint operations and joint ventures
The meetings with TM Performance go in this direction and have served to strengthen and deepen the contacts already started in recent months and cemented by the signing of two agreements, preparatory to the closing of the operation expected for the autumn.
(Source:Class Editori)
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