Dongfeng Auto and Getrag In Joint Venture Agreement
Dongfeng likes Saab as well. In an announcement this week, Dongfeng, China’s second largest auto manufacturer, has announced th...
https://automology.blogspot.com/2013/11/dongfeng-auto-and-getrag-in-joint.html
Dongfeng likes Saab as well.
In
an announcement this week, Dongfeng, China’s second largest auto
manufacturer, has announced the creation of a JV with Germany’s Getrag
Group, the world’s largest independent manufacturer of transmissions. Based in the central Chinese city of Wuhan, the JV is a 50:50
arrangement between the 2 companies and will involve an investment of
USD165 million to set up for the first phase alone.
The
new company will be called Dongfeng Getrag Transmission Co Ltd and is
set to start manufacturing the all new 6 speed dual clutch automatic
transmission by 2016, with a capacity of some 250,000 transmissions
annually. It is thought that the initial production will be primarily
for Dongfeng's consumption, but it is rumoured that the new JV company
will raise production to over 1 million units and these will be for both
domestic and international markets. Dongfeng has announced that the
new company will also have an R&D centre with full capability for
all kinds of transmissions.
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Getrag was founded back in 1935 in
Ludwigsburg, Germany, and is currently thought to be the world’s largest
independent transmission manufacturer for passenger and light
commercial vehicles. Sales for the past year are thought to be about
USD3.5 million, and they supply to BMW, Daimler, Ferrari, Porsche,
Renault and the Volkswagen Group. They have an existing JV with Ford in
the USA. The tie-up with Dongfeng will see the German manufacturer
getting access into a market of potentially 3.3 million vehicles
annually, a figure that may increase by over 1 million units if the
central China automaker achieves their ambitious growth plans.
Dongfeng
is no stranger to alliances with other automakers. They already have
established relationships with Nissan, Honda, PSA Peugeot and Citroen.
Earlier this month, they announced yet another acquisition, this time of
the Swedish T Engineering Company, which was formerly a part of the now
defunct Saab Group. This company works on R&D for control systems
used in engines, transmissions and chassis, as well as research into
hybrid and electric cars.
image: globaltimes.cn |