Midea Group enters the new energy vehicle market and Welling Auto Parts Company is established

Welling Auto Parts Co., Ltd., a subsidiary of Midea Group, was officially established, focusing on incremental parts in the three major areas of new energy vehicles: thermal management, electric drive, and chassis execution system. Relying on Midea Group's advantages in the field of household air-conditioning electric compressors, Welling Auto Parts Co., Ltd. has a clear cost competitive advantage in the automotive air-conditioning compressor market.