The ABT Group, a German-based company specializing in automotive refinement, has entered into a joint venture with YOTTA Automobile (Guangzhou) Co. Ltd., a leading Chinese company in automotive digitalization, electric vehicles, and zero-emission energy solutions. The newly-formed company, ABT Technologies (Guanghzou) Co., Ltd., will be majority-owned by YOTTA with a 51% stake, while ABT Sportsline, a subsidiary of the ABT Group, holds 34%, and renowned investor Dr. Cornelius Boersch holds the remaining shares.
The joint venture will grant the newly formed Chinese company the exclusive right to sell refinement parts, co-branded vehicles, and services under the ABT brand in China, with a focus on Volkswagen Group models, especially Audi models, and the refinement of Chinese electric cars.
As part of the joint venture, ABT special editions will be produced and sold in China in cooperation with Audi (FAW). ABT Sportsline has also signed Memorandums of Understanding (MoUs) with major Chinese OEMs, SOKON Group and GAC Motor Co., Ltd., to produce 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. The partnership offers ABT Group additional export opportunities to China, as well as income from license fees, while the integration of local partners will have a positive cost-benefit impact for the company.
Hans-Jürgen Abt, CEO of ABT SE, views the joint venture as a milestone in the company’s history, given that China is the world’s largest market for passenger cars, and the growing Chinese middle class appreciates high-quality, individual cars.
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The expansion of ABT Group’s business in China offers an opportunity to expand the strong ABT brand and its positioning as a technology leader in eMobility and fuel cells globally. The joint venture is part of ABT Group’s strategy to expand its global presence, with a focus on Europe, the USA, and Asia. Today, the company is already represented in over 60 countries worldwide, with more than 900 ABT dealerships.
