The global leader of home appliance makers Whirlpool and Chinese conglomerate Hisense, a large electronics and information industry unit operating in such fields as household appliances, telecom, information, real estate and commerce, have set up a joint venture for consumers worldwide.

The 50-50 joint venture will invest about 900 million yuan ($129 million) in high-end washing machines and refrigerators production under the Hisense and Whirlpool brands.

The two sides will work together on capital management, research, manufacturing, procurement and global marketing. And the expected production capability is two million washing machines and one million refrigerators each year.

“The strong union of Hisense and Whirlpool will improve the structure of the Chinese appliances industry and prompt the research, development and manufacturing ability of Chinese companies to reach international levels,” said Huo Dufang, director-general of the China Household Electrical Appliances Association.

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China, Hisense, home appliances, JV, Whirlpool