“We made progress recently on some strategic fronts. We signed an agreement with BJEV to expand our vehicle assembly operations into China and announced an acquisition that will expand our global footprint in Lighting. However, relative to our expectations, our joint venture transmission business is experiencing headwinds. Nevertheless, we expect the business to continue to grow, driven by further penetration of dual clutch transmissions.”
“We made progress recently on some strategic fronts. We signed an agreement with BJEV to expand our vehicle assembly operations into China and announced an acquisition that will expand our global footprint in Lighting. However, relative to our expectations, our joint venture transmission business is experiencing headwinds. Nevertheless, we expect the business to continue to grow, driven by further penetration of dual clutch transmissions.”