GAC Motor, Aisin AW sign agreement on automatic transmission JV

GAC Motor and Aisin AW, a world-renowned AT manufacturer, held the signing ceremony of the automatic transmission (AT) joint venture project in Beijing on the afternoon of April 24. According to the joint venture agreement, both parties will conduct the joint venture cooperation in manufacturing, sale, after-sale service and relevant technical consultation of the AT and AT-related components to jointly enhance both parties’ products competitiveness and brand premium capability.

As agreed, both parties will jointly set up an automatic transmission joint venture located in Guangzhou. With its registered capital reaching USD 117 million, GAC Motor and Aisin AW will hold 40% and 60% stake of the joint venture respectively.

The establishment of the joint venture, on one hand, will contribute to the cultivation of experts and technicians in the automatic transmission manufacturing, also, will help provide GAC Trumpchi with sufficient and diversified ATs and auxiliary components, on the other hand, it will help reduce the cost, improve the consistency of the products quality and enhance the high-quality development for the brand.

The cooperation with Aisin AW is also a crucial step for GAC Trumpchi to internationalize its brand. Currently, Trumpchi has established strategic cooperation partnership with 11 world-leading automobile components suppliers. GAC Trumpchi will also sign strategic cooperation agreements with 7 world-leading components suppliers during Auto China 2018.