Hisense Subsidiary Sanden Corporation Wins Five-Year Order From Tesla

According to a report by Cailian Press on July 11, insiders of Chinese home appliance company Hisense revealed that its subsidiary Sanden Corporation (US) had recently received orders for two electric compressor projects produced by a world-leading NEV manufacturer in the US, promising to supply products for five years. It is estimated that the total annual order volume will exceed $100 million.

According to relevant sources, the leading enterprise is Tesla. In addition, according to another domestic media outlet The Paper, people familiar with the matter confirmed the order, but both parties have signed a confidentiality agreement, so Hisense will not make it public.

In June 2021, Hisense Home Appliances, a listed company of Hisense, completed the acquisition of Sanden Corporation (Japan), holding about 75% of its voting rights and officially becoming its controlling shareholder. According to public information, Sanden Corporation is the world’s leading first-class manufacturer of automotive air-conditioning compressors and automotive air-conditioning systems.

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Hisense Home Appliances’ main business covers R&D, manufacturing and marketing of refrigerators, central air conditioners, household air conditioners, freezers, washing machines, commercial cold chains, and other electrical products in kitchens and bathrooms. According to the 2021 interim report released by Hisense last year, during the reporting period, due to the completion of the merger and acquisition of Sanden Corporation, Hisense Home Appliances expanded to automobile air-conditioning compressors.