Delphi Automotive Systems and Daesung Electric Co. Ltd. are forming a joint venture to support the design and manufacture of automotive components for Korean automotive manufacturers. Through its Delphi Packard Electric division, the Troy, Mich.-based Delphi will assume a 45% share of Daesung, Ansan, S. Korea.
The joint venture, which will continue to operate under the Daesung name, was forged in anticipation of future growth of Korea's automotive manufacturing industry, the companies said. Under technical assistance agreements, Daesung had already been manufacturing and supplying Delphi's bussed electrical systems and other automotive components to Delphi customers. Now the company said it will begin working with Delphi's European switch group to explore future opportunities for increased switch and relay sales across the Asia Pacific region.
Delphi's Nick L. DiNardo has been named Daesung vice president and will take an active role in managing the Daesung operation.