Published on : Apr 22, 2014
Harman, the U.S.-based audio company that is best known as the provider of automobile stereos for top-end car models such as Mercedes-Benz, BMW and Ferrari, has said that it has signed agreements with two leading Chinese automakers—Chang’An and Geely.
The company, that is associated with premium infotainment systems for leading auto makers, said that these new contracts will help the company make further inroads into the emerging market that is currently high on growth. According to the company’s CEO Dinesh C. Paliwal, the newly acquired awards will propel the company towards its strategic vision—that of providing top-of-the-line infotainment features to its customer base in high-growth market. Paliwal was speaking at the press conference at the Beijing International Automotive Exhibition.
During the press conference, Paliwal also said that the company is currently in the process of establishing a global R&D center in Suzhou. In addition to the R&D center, the company will also be investing in a laboratory for conducting joint research in automotive innovation with the Tsinghua University.
The company made its first foray into the Chinese market in 2010, and since then it has recorded significant progress in the country, with a growth rate of 80%. China is currently ranked the largest auto market in the world.
Paliwal also said during the press conference that the company will lay a stronger emphasis on cooperating with domestic automakers with the aim of training local talent and in the process.
Geely Motors is currently the largest private automobile manufacturer in China, and it has incorporated Harman stereos in some of its latest SUV models.
These stereo systems have also been installed by Haval, another Chinese automaker, in their SUVs.