Mahle and Hella sell entire equity in BHTC to Taiwan’s AUO for 600 million euros

The two leading global suppliers divest their respective 50 percent stake in the Behr-Hella Thermocontrol JV to focus on mega trends in the global automotive industry.

Autocar Pro News Desk By Autocar Pro News Desk calendar 04 Oct 2023 Views icon2936 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Mahle and Hella sell entire equity in BHTC to Taiwan’s AUO for 600 million euros

Automotive suppliers Mahle and Hella are selling their respective 50 percent stake in the Behr-Hella Thermocontrol (BHTC) joint venture to AUO Corporation. The parties signed the relevant agreement on October 2, 2023. The total purchase price is based on an enterprise value of 600 million euros (Rs 5,272 crore). The closing of the transaction expected to take place by mid-2024. AUO, based in Taiwan, specialises in particular in display panel products and solutions.

The agreed sale of shares is the result of discussions between Mahle and Hella regarding the future positioning and direction of BHTC. These talks were initiated against the backdrop of a change of control clause in the joint venture agreement after the technology company Faurecia acquired a majority stake in Hella.

“Since its foundation almost 25 years ago, BHTC has established itself as a strong automotive supplier with an excellent technology portfolio and a high customer reputation. We are therefore pleased to have found a strategic buyer in AUO who can further develop BHTC''s business in a competitive and continuously growing environment and seize new market opportunities,” emphasized Arnd Franz, Chairman of the Mahle Management Board and CEO. “We are focusing on further accelerating our transformation with a consistent focus on electrification, thermal management, and components for sustainable green combustion engines as part of our Mahle 2030+ strategy.”

“BHTC is a well-positioned, future-oriented company. However, after consideration of all the framework conditions, we have jointly reached the conclusion that BHTC has greater growth opportunities under a new owner than in the current shareholder structures,” says Hella CEO Michel Favre. “With our divestment from the joint venture, we are also continuing our established portfolio management. In this context, we are strengthening our focus and resource allocation on our core business groups Lighting, Electronics, and Lifecycle Solutions.”

"Against the backdrop of increasing global competition and restructuring value chains in the industry, the combination of AUO and BHTC optimally brings together the respective strengths of both companies,” says Paul Peng, Chairman and Group Chief Strategy Officer of AUO. “Jointly, we can make the best use of both companies'' global operations, local production facilities and world-class visionary research and engineering teams. On this basis, we aim to leverage synergies and accelerate the interconnection of the automotive industry''s global supply and value chains to deliver outstanding, diverse and innovative solutions to our global customers and partners."

BHTC, headquartered in Lippstadt (Germany), is a leading company in the field of air conditioning control as well as a specialist for system solutions in the field of HMI (Human-Machine-Interface). BHTC currently employs around 2,900 people worldwide and generated sales of 619 million euros in 2022. BHTC was founded in 1999 as a joint venture between the two equal shareholders Mahle and Hella.


Hyundai Transys signs $2.2 billion deal with Saudi Arabia’s Ceer to supply EV drive systems

auther Autocar Pro News Desk calendar25 Jun 2024

The Korean component maker has signed a contract worth KRW 3 trillion (Rs 180,540 crore) with Ceer to supply its integra...

Hyundai Mobis uses acoustic AI system to check product quality at one unit per second

auther Autocar Pro News Desk calendar25 Jun 2024

Acoustic AI analyses subtle sounds generated during product inspection to determine quality accuracy and to inspect for ...

Harman breaks ground on new plant in Thailand

auther Autocar Pro News Desk calendar25 Jun 2024

The new facility, located 125km outside of Bangkok, is in close proximity to manufacturing facilities of a number of lea...