ABT SE agrees on foundation of a joint venture in China and strengthens international positioning

ABT SE agrees on foundation of a joint venture in China and strengthens international positioning

• Joint Venture “ABT Technologies (Guanghzou) Co., Ltd.” with strategic partner YOTTA Automobile (Guangzhou) Co., Ltd. in formation
• Expansion of China business strengthens the ABT brand
• Development of refinement competence based on the needs of the Asian market
• Refinement of Chinese E-vehicles planned
• MoU with Chinese OEMs SOKON and GAC already entered into

Kempten, 23 February 2023 – The ABT Group, a leading internationally positioned technology-driven automotive company in the fields of eMobility and refinement with a strong brand, has agreed to set up a Chinese joint venture under the name of "ABT Technologies (Guanghzou) Co., Ltd." YOTTA Automobile (Guangzhou) Co., Ltd. was gained as a strategic partner for ABT in China and holds a 51% stake in the joint venture. YOTTA is a leading Chinese company in the field of automotive digitalisation, electric vehicles and zero-emission energy solutions. The ABT Group subsidiary ABT Sportsline holds a 34% stake in the planned joint venture. Another partner is the renowned investor Dr Cornelius Boersch.

With the joint venture, the ABT Group is expanding its position on the attractive Chinese automotive market and strengthening its comprehensive refinement expertise as well as the ABT brand on an international level. 

The newly founded Chinese company is granted the exclusive right to sell refinement parts, co-branded vehicles and services under the ABT brand in China. The focus is on VW Group models, especially Audi models, as well as the refinement of Chinese electric cars, among others. The ABT Group is thus creating synergies between the fast-growing eMobility sector and the classic refinement business. As part of the joint venture, ABT special editions are to be produced and sold in China in cooperation with Audi (FAW). Furthermore, ABT Sportsline has already signed MoUs with the major Chinese OEMs SOKON Group and GAC Motor Co., Ltd. (Guangzhou) as part of its Chinese expansion. Together with these car manufacturers, ABT Sportsline is planning the production of high-quality special editions under the ABT brand for the Chinese market. According to the ABT Group's current planning, the joint venture is expected to generate a medium-term annual sales revenue potential in the three-digit million-euro range.

In this context, the ABT Group benefits from additional export opportunities to China as well as income from licence fees. Through the integration of local partners, the joint venture also has a very positive cost-benefit impact for the ABT Group.

The joint venture is part of the strategy of ABT to further expand its global presence with a focus on Europe, the USA and Asia. Today, the ABT Group is already represented in over 60 countries worldwide with more than 900 ABT dealerships.

Hans-Jürgen Abt, CEO of ABT SE: "The joint venture in China is a milestone in the corporate history of ABT. The Chinese market is the largest market for passenger cars worldwide, and the growing Chinese middle class appreciates high-quality, individual cars. In addition, the expansion of our business in China offers us the opportunity to further expand the strong ABT brand and our positioning as a technology leader in eMobility and fuel cells internationally. We are looking forward to establishing our brand, which stands for Made in Germany products, on an even more international level."

About ABT SE

ABT is one of the oldest and at the same time most innovative automotive brands in Germany. Founded in 1896, ABT develops future-proof technologies for automotive groups, tier 1 suppliers and end customers. In this context, ABT is proactively contributing towards shaping global megatrends such as eMobility and individualisation. A broad technological positioning combined with speed, flexibility and experience from numerous successfully implemented customer projects make ABT the preferred partner in the automotive sector. ABT has taken on a pioneering role in eMobility and has built more than 4,300 electric vehicles, including the VW T6E van. ABT is also the world's largest refiner for VW Group vehicles and operates in over 60 countries. ABT thus stands for innovative technologies and a unique design. The world-class brand of the family-run, tradition-steeped company has benefited for decades from its successes in motorsport, which have made ABT one of the most competitive teams in Europe. The experience gained in racing flows into technological innovations which are transferred directly from the racetrack into the products.

About YOTTA Automobile (Guangzhou) Co., Ltd.

YOTTA is one of the leading companies in the automotive supply chain in China with a focus on vehicle digitalisation, electric vehicles and zero-emission energy solutions. With investments in industrial parks, production and R&D facilities, YOTTA will be responsible for a wide range of major vehicle components installed in more than 3 million vehicles by 2025.

About Dr Cornelius Boersch

Dr Cornelius ("Conny") Boersch is an entrepreneur and one of Europe's most active technology investors. He is the founder of the investment companies Mountain Partners and Conny & Co. As a business angel, he has invested in more than 400 companies since 1995 (including Lieferando, Autoscout, Kavak and TIER) and was voted "European Business Angel of the Year" in 2009. He is part of the European Angels Fund initiative of the European Investment Fund (EIF). Dr Boersch is also a member of the Administrative Board of ABT SE.

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