Lear Corporation announced that it has signed a definitive agreement to establish a joint venture with Shinry Technologies Co. Ltd. a China-based Tier 1 supplier of electronics for electric vehicles. The completion of the approval and registration of the joint venture is anticipated within the fourth quarter of 2021, and the joint venture management team is expected to be finalized this year.

Located in Shenzhen, China, the joint venture will integrate complementary portfolios of advanced onboard vehicle chargers and next generation multi-function integrated power modules from both companies to serve a broad range of regional and global automakers. Founded in 2005, Shinry operates R&D Centers in Shenzhen and Wuhan, and operates facilities in Shenzhen with an additional location planned in Shanghai.