The newly-formed company with Gold Phoenix is called Shandong BRGP Friction Technology Co., Ltd and will operate starting in early 2023 in Jinan, the capital of the Shandong province in Eastern China.

Brembo says the newly formed company will bring together their leadership in braking systems with Gold Phoenix’s high-tech friction solutions. The JV will focus on superior product quality and innovation, especially in terms of performance, comfort, durability, and sustainability, with the aim of anticipating the challenges of electrification and autonomous driving.

The Joint Venture will serve the segments of passenger cars, light commercial vehicles and heavy-duty trucks, leveraging on new opportunities arising from a growing market.

“We have entered into a strategic and long-term partnership with a leader in high-tech braking friction products to further improve the vertical integration of our solutions,” said Roberto Caravati, Brembo Aftermarket Chief Operating Officer. “With this Joint Venture, Brembo will enjoy an even stronger positioning in the aftermarket segment, seizing new opportunities thanks to a more effective development of pads, in line with our mission of being a solution provider. All this to the benefit of our partners across the value chain and all car enthusiasts who choose to rely on our brand for top quality and performance.”

“We are very pleased to form this partnership with Brembo, a company with unparalleled experience in braking systems on the global scale,” said Mr. Peng Sun, CEO of Gold Phoenix. “By combining our industrial and technological expertise, together we are committed to building a successful long-term enterprise. With a dedicated facility and team, the new company will be focused on product innovation, with the ultimate goal of delivering market-leading solutions to customers.”