Antonov has signed a production licence agreement with Zhejiang Geely Automobile Gearbox, the transmission manufacturing subsidiary of Geely Automotive.
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This follows an announcement last 27 November that Geely and Antonov had signed heads of agreement for the licence, which is for the production of the company’s TX6 six-speed automatic transmission.
Under the licence, Geely will have the non-exclusive worldwide rights to manufacture and sell transmissions covered by the Antonov six-speed automatic patents and will also receive design support from Antonov.
Antonov will receive licence fees totalling EUR900,000 payable over the next nine months and then a production royalty on each transmission produced.
Geely currently produces around 200,000 cars a year. Both companies will work on fitting the TX6 to an unspecified number of models with production commencing in 2008.
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By GlobalDataGeely has already put two models of conventional automatic transmission into production. The new transmission will also be available to other vehicle makers worldwide.
Antonov CEO John Moore said: “Geely has a strong track record in developing transmissions and their experience and established infrastructure will allow us to bring our technology to production rapidly. China is a key market for our technology and Geely provides an excellent customer reference site, which will underpin our commercialisation strategy in the region.”
