Brembo and Chinese brake manufacturer Gold Phoenix have signed a 50:50 Joint Venture agreement to create Shandong BRGP Friction Technology Co. Ltd, the first large scale Brembo manufacturing facility fully dedicated to producing aftermarket brake pads. Brembo and Gold Phoenix have agreed to invest 35 million euros in the project over the next three years. Shandong BRGP Friction Technology Co., Ltd is expected to start operations in early 2023 in Jinan, the capital of Shandong province in Eastern China.