ELECTRONICS manufacturer Clarion Group and Orient Power Holdings will team up in a US$12 million joint venture to make car stereos in Dongguan, the chairman of Orient Power announced yesterday. Chairman Simon Poon said the company had signed a memorandum of understanding to set up Clarion Orient Co which would hold a 51 per cent equity in the venture. Orient Power's wholly-owned subsidiary Orient Power Auto Electronics would hold the rest. Total anticipated project investment was about $12 million, comprising $10 million for machinery and equipment, and $2 million for land and building, the company said. Mr Poon said: 'this move fits well with Orient Power's strategy to enter into strategic partnerships with market leaders. 'The auto electronics market is growing extremely rapidly and the advent of new technology, such as navigation and in-car audio equipment make the potential for development and growth virtually unlimited,' he said.