Geely-Aisin Seiki JV to produce automatic transmissions in China
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HONG KONG, April 25 (Reuters) - Geely Automobile Holdings Ltd said on Wednesday it would team up with Japanese automobile transmissions maker Aisin Seiki Co Ltd to manufacture front-wheel drive 6-speed automatic transmissions and related components in China.
The joint venture, with registered capital of $117 million, will be 40 percent owned by Geely and 60 percent by Aisin Seiki.
The Chinese carmaker said the venture, which will start production in 2020 with a designed production capacity of 400,000 units of automatic transmission per year, will now ensure a stable supply of products to Geely. (Reporting by Donny Kwok; Editing by Sherry Jacob-Phillips)