Automotive supplier Getrag and China’s Jiangling Motor Company Group have formed a joint venture in China to make vehicle transmissions and components, Getrag reportedly said on Monday.
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According to Reuters, Getrag, the world’s largest independent producer of manual transmissions, will invest EUR34m (US$41.3m) to hold a two-thirds stake in the Nanchang-based venture, named GETRAG (Jiangxi) Transmission.
Jiangling reportedly will bring three production plants into the venture and will hold the remaining one-third stake.
“During the next 2-3 years, the new company will produce more than 550,000 manual and automated manual transmissions and more than 1.7 million sets of transmission components per annum primarily for the Chinese market,” a statement cited by Reuters said.
Getrag and Dana last week announced co-operation on driveline components.
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