# Zhuzhou CRRC Times Electric and FAW Equity to form joint venture for EV drive systems

Zhuzhou CRRC Times Electric and FAW Equity Investment will set up a joint venture with registered capital of CNY 500 million, each contributing 50%, to develop, manufacture and sell electric drive systems for FAW's new energy vehicles.

- Type: Partnership
- Announced: 2022-08-12
- Where: China
- Value: $74.0M (500.0M CNY)
- Status: announced
- Products: electric drive systems for new energy vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Zhuzhou CRRC Times Electric](https://endata.com/companies/36770.md) (partner)
- [FAW Equity Investment](https://endata.com/companies/64697.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/770554.html), 2022-08-12: "公司与一汽股权投资(天津)有限公司(一汽股权)共同出资设立合资公司。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.