Magenti Marelli, headquartered in Milan, Italy, is a multinational group company engaged in the research and development, design and production of auto parts, systems and components in the automotive industry. It is a leader in the design and manufacturing of auto parts and high-tech systems. The group is engaged in the design and production of advanced automotive systems and components. The group has 49 production plants and 30 research and development centers in 15 countries. It has set up several factories and research and development centers in China.

After the establishment of Zhejiang Wanxiang Marelli shock absorber joint venture, the annual output of 5.7 million shock absorbers was first implemented. The new investment of the project is 52 million yuan, including 47.65 million yuan for R & D, process equipment and information system and 4.35 million yuan for public supporting transformation. The project will be fully implemented by 2014. By 2015, the joint venture will achieve an overall sales of 450 million yuan and an annual net profit of more than 41.37 million yuan.