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Credit: Hanon

Hankook & Company Group has finalised a share purchase agreement (SPA) with Hahn & Company to acquire Hanon Systems. The acquisition has been executed through its core business, Hankook Tire & Technology (Hankook Tire). As a result, Hankook & Company Group now holds 54.77 percent of the shares in Hanon Systems. Hanon Systems Co. Ltd., headquartered in Daejeon, South Korea, is a leading manufacturer of automotive components and one of the world’s largest suppliers of vehicle thermal management systems.

Swiss automotive supplier Autoneum is to acquire a 70% stake in Jiangsu Huanyu Group, a Chinese automotive supplier. The acquisition, valued at SFr75m ($84.8m), is expected to close in March 2025. The transaction will proceed in two phases: Phase one entails the purchase of a 70% stake, while phase two grants a call option for the remaining 30% in 2028.

Korea’s Hansae Yes24 Group is diversifying into the automotive industry from current operations focused on apparel. Hansae Yes24 is to acquire Erae AMS Company Ltd, a components manufacturer formerly known as Korea Delphi Automotive Systems Corporation. Erae supplies a range of automotive parts including driveline, controls, braking and steering system parts for ICE and electric vehicles.

VinFast, a Nasdaq listed Vietnamese carmaker, is to receive a capital boost of $3.35bn from its parent company, Vingroup. The move comes as the company incurs losses amidst an aggressive global market expansion. Vingroup, a major conglomerate in Vietnam, plans to provide up to $1.38bn to VinFast by the end of 2026 through various means, including activities, dividends, and potential divestments.