GAC Motor

GAC Motor and Aisin AW held a foundation stone laying ceremony for a joint venture to manufacture automatic transmissions in Guangzhou, China. The joint venture has an investment of RMB 2.13 billion (US$310 million) and aims for an annual production capacity of 400,000 AT units.

GAC Group's subsidiary GAC Motor signed a joint venture contract with Aisin AW to establish an automatic transmission company in Guangzhou. Total investment is $350 million, with GAC Motor holding 40% ($46.8 million). The JV will produce FF6-speed automatic transmissions with an annual capacity of 400,000 units, starting production in 2020.