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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
