08 July 2020

Wonder Auto Group invests in e-Mobility business of thyssenkrupp AG

King & Wood Mallesons (KWM) has advised Jinzhou Halla Electrical Equipment Co., Ltd. (JHEECO), a wholly owned subsidiary of the Chinese Wonder Auto Group Limited, on its investment in the electromobility business of thyssenkrupp AG.

JHEECO is a leading Chinese manufacturer of electronic products for the auto industry and produces in particular electric generators and starters for auto manufacturers. The company was founded in 1996 and has become the market leader in this product segment in China. 

Several years ago, thyssenkrupp AG established the "e-Mobility Competence Center" in Liechtenstein. The e-mobility business is mainly run by teams in Liechtenstein and Hungary and includes in particular research and development activities. The key intellectual property rights of the business unit are held by the thyssenkrupp parent company in Germany. 

Together with partner law firms in Switzerland, Hungary, Germany (regarding IP issues) and Liechtenstein, the Frankfurt-based KWM team advised JHEECO on the acquisition of the "Competence Center e-mobility" business unit by way of an asset deal. The assets, including the IP rights for the e-mobility business, were spun off from the thyssenkrupp group and transferred to a newly established Swiss company. 

The corona pandemic significantly delayed the closing of the transaction. The purchase agreement was already signed in January 2020. 

Advisors to Jinzhou Halla Electrical Equipment Co., Ltd.:

Hui Zhao (partner), Dr. Sandra Link (partner) (both Corporate/M&A)

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