Johnson Controls has entered into a joint venture with Beijing Hainachuan Automotive Parts Co. Ltd. to expand production of fuel-saving advanced batteries, besides building a new factory in China to develop batteries for start-stop technology. With the company spinning off its car seating lines and its auto-interiors venture, the company will be focusing more on its auto battery segment, which currently forms close to 40% of our price for Johnson Controls JCI -2.24%. Joe Walicki, president of the Power Solutions division of Johnson Controls, considers China to be a high growth market for the adoption of its start-stop technology car batteries. The automotive business now has 71 factories in China, more than the number in the United States, growing at a rate of one factory every two months.
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