Punch Powerglide

Chongqing Changan Automobile Co., Ltd inked a letter of intent with French automatic transmission supplier Punch Powerglide to collaborate on transmissions. The partnership was announced at the Sino-French Roundtable on Industrial Cooperation.

Punch Powerglide, a manufacturer of automatic transmissions in Strasbourg, plans to hire 50 additional permanent employees in 2018 to increase production of 8-speed transmissions and support growth. The site currently employs 1,200 people.

Punch Powerglide Strasbourg launched a new gearbox for hybrid vehicles, with a €44 million investment plan for development and industrialization at its Alsace site. Production is scheduled for mid-2019, and 300 new jobs are planned by 2021.