Visteon Corporation (Van Buren Township, MI) plans to take a stake in a supplier of climate control systems affiliated with leading local automaker Chery Automobile (Wuhu). Wuhu Bonaire Auto Electrical Systems is the target of the investment initiative.

Founded in 2003, Bonaire is an automotive climate supplier that develops and manufactures heating, ventilation and air conditioning (HVAC) systems and engine cooling systems. Under the new ownership structure, Bonaire will become an automotive climate center of excellence and manufacturing hub for Visteon, serving the rapidly growing Chinese automotive market. Located close to Chery in Wuhu, Bonaire has more than 700 employees including nearly 200 engineers.

"We are pleased to form a strategic alliance with Visteon, which is a strong player in the global automotive market and well known for its climate technology," said Zhang Ping, president of Chery Technology. "We are confident this new structure will enhance our brand and product quality to provide better products and services to our customers."

Visteon is one of the world's leading manufacturers of climate products for vehicles, including compressors, HVAC, powertrain cooling and fluid transport solutions. The company has 17 climate manufacturing sites in Asia, including eight wholly-owned or joint venture facilities in China.-[email protected]