Ningbo Joyson Electronic said on Friday that it has agreed to buy two overseas firms with autonomous driving know-how for more than $1.1 billion, illustrating the Chinese car industry's determination to keep pace with the latest technological developments.
The Shanghai-listed automotive electronics supplier said it will acquire US-based airbag and seat belt maker Key Safety Systems KSS for $920 million and the car navigation division of TechniSat Digital GmbH, a German manufacturer of direct broadcast satellite receivers, for 180 million $205 million, according to its filing with the local stock exchange. Both takeovers will be paid in cash and have...
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