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Midea and Electrolux to form premium brand joint venture in China Guangdong
2017/05/03
Guangdong, China, May 2nd 2017 - Midea (Midea Group Co. Ltd, SZSE 000333), a leading global player in consumer appliances, Heating, Ventilation and Air-Conditioning (HVAC) systems, Robot, and Industrial automation systems, has signed an agreement with Electrolux to establish a long-term strategic joint venture in China to promote and distribute the premium German brand AEG appliances for Chinese customers.
 
This partnership, majority owned by Midea, will build on the strengths of both Midea and Electrolux to explore the rapidly growing Chinese premium markets for both B2C and B2B segments:  AEG brand will benefit from Electrolux’s brand expertise while Midea will provide unparalleled market access and consumer insights.
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