Abt founds new joint venture in China
The German conversion company Abt and Yotta Automobile have set up a Chinese joint venture called ‘Abt Technologies (Guangzhou) Co., Ltd’. It has exclusive rights to sell refinement parts, co-branded vehicles and services under the Abt brand in China.
The goal is to create synergies between the classic refinement business and the growing EV market. One focus is on VW Group models, especially Audi. According to Abt, special editions will be built and sold in China in cooperation with the German carmaker. In addition, the newly founded Chinese company will receive the exclusive right to sell tuning parts, co-branded vehicles and services under the ABT brand in China, according to a statement from the Allgäu-based company. The ABT Group is thus creating “synergies between the high-growth eMobility sector and the classic tuning business”.
Accordingly, Yotta will hold 51 per cent of the joint venture, while the ABT Group will own 34 per cent of the shares. The remaining 15 per cent will be held by investor Cornelius Boersch. How high the total investment of the three partners is, is not stated in the averaging.
Abt subsidiary Abt Sportline, which holds a 34 per cent stake in the new joint venture, previously signed MoUs with Chinese OEMs Sokon Group and GAC Motors. Abt Sportline plans to release high-quality special editions for the Chinese market.
Abt is confident that its new joint venture with Yotta Automobile will take off. The company expects the joint venture to mid-term generate annual sales in the triple-digit million euros range. ABT left it open it open, however, whether the refinement will only involve visual changes and possibly lowered chassis, or whether there will also be more powerful electric drive systems. The company also offers performance enhancements for the refinement of combustion engine models. ABT has a wealth of experience with electric drives through the conversion business to electric drives (especially for light commercial vehicles of the VW Group) and the Formula E activities.
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