Highway Holdings Limited, together with its subsidiaries, manufactures and supplies metal, plastic, electric, and electronic components, subassemblies, and finished products for original equipment manufacturers (OEMs) and contract manufacturers. It operates through two segments, Metal Stamping and Mechanical OEM; and Electric OEM. The company also trades in plastic injection products; and manufactures and assembles automation equipment. Its products are used in the manufacture of products, such as photocopiers, laser printers, print cartridges, electrical connectors, electrical circuits, vacuum cleaners, LED power supplies, stepping motors, pumps for dishwashers, and other washing machine components. In addition, the company assists customers in the design and development of the tooling used in the metal and plastic manufacturing process, as well as provides an array of other manufacturing and engineering services, including metal stamping, screen printing, plastic injection molding, pad printing, and electronic assembly of printed circuit boards. It operates in Hong Kong and China, Europe, North America, and other Asian countries. Highway Holdings Limited was incorporated in 1990 and is headquartered in Sheung Shui, Hong Kong.
HIGHWAY HOLDINGS SIGNS MASTER AGREEMENT FOR FORMATION OF MAJORITY-OWNED ENERGY STORAGE JOINT VENTURE WITH WOWTIGER BRAND OWNER HUAHU
Highway Holdings signed a master agreement to form a 57%-owned joint venture with Guangdong Huahu New Energy Technology Co., Ltd., targeting the battery energy storage market.
The JV, Huahu International New Energy Technology Company Limited, will be capitalized with $3.5 million, including $2.0 million in cash from Highway Holdings, and will distribute Wowtiger-branded products in Germany, Italy, the US, and South America.
Management expects the partnership to diversify revenue and increase factory utilization, with up to 400,000 restricted shares issuable to Huahu as performance incentives.