CHINA/GERMANY: Getrag and Dongfeng to form transmission JV in China
Getrag - which supplies dual clutch automated transmissions to Ford - and Dongfeng Motor Group today have signed an agreement to establish a 50/50 joint venture in China. Dongfeng Getrag Transmission will develop and produce transmissions for Dongfeng's passenger cars and light commercial vehicles.
The two companies will set up a new transmission engineering and production facility in China, expected to start output late in 2015.
"The new strategic alliance effectively supports the objectives of both companies as it provides innovative transmission products to Dongfeng, the second largest passenger car manufacturer in China, helping the company to further strengthen its market position. Getrag, the largest independent system suppliers for transmissions for passenger cars and light commercial vehicles worldwide, benefits from a second strong pillar in the Asian market, expanding new business opportunities in China and beyond," the pair said in a statement.
Getrag CEO Mihir Kotecha added: "[The] strategic alliance with Dongfeng... further strengthens our business in Asia and creates exciting new possibilities for the future. In addition, our successful Asian business will generate synergies, know-how and economies of scale also improving the competitiveness of our European operations. The establishment of Dongfeng Getrag Transmission. is another important step on our way towards a truly global company."
Dongfeng chairman Xu Ping said: "This joint venture cooperation... is an important action... to pool our global resources, to speed up the own-brand powertrain platform and further enhance our first-class independent innovation ability. This partnership will surely provide an important drive and support to Dongfeng's own-brand business."
The first product of Dongfeng Getrag Transmission will be a new six-speed dual clutch transmission, named 6DCT150 [from the same family produced in Europe - ed], for sale in China.
The 6DCT150 is a very compact package designed for front-transverse installation in the city car and compact vehicle segments.