Corporate giant CAIP expands into German and European smart interior design market with the WAY Group
Changshu Automotive Trim Co Ltd. in short “CAIP”, one of the leading interior trim suppliers to the automotive industry with 7300 employees, 35 production sites in China and a worldwide turnover of EUR 900 million takes a 30% stake in WAY Group. WAY Group with its specialization in the automotive sector supports companies in the areas of digitalization, marketing, sales, training, development services and technical project management.
The group with its 5 companies employs 140 people at its Munich location. CAIP, listed on the Shanghai stock exchange, secures a strategic entry into the German and European market with the aim of becoming one of the market leaders in the field of smart interior design.
In return, Gerd Otto is taking a 15% stake in the JV Tianjin Weichun Automotive Technology. Together, the companies intend to implement the development of CAIP into an international brand, the positioning of CAIP as a strategic supplier for European OEMs, and the further development of technologies that can be supplied to manufacturers of autonomous vehicles.