# Zhuzhou CRRC Times Electric and FAW set up JV for EV drive systems

Zhuzhou CRRC Times Electric and FAW Equity Investment will jointly establish a 500 million yuan joint venture (50% each) to develop, manufacture and sell electric drive systems for new energy vehicles, supplying FAW's NEV products.

- Type: Partnership
- Announced: 2022-08-12
- Where: China
- Value: $74.0M (500.0M CNY)
- Status: announced
- Products: electric drive systems, motors, inverters, power transmission assemblies
- 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/770349.html), 2022-08-12: "公司与一汽股权投资(天津)有限公司将共同出资设立合资公司"

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