Chinese Automaker JAC Forms Joint Venture with Cummins
Fortune 500 corporation Cummins Inc., headquartered in the U.S. state of Indiana, announced it would form a 50:50 joint venture with China's Anhui Jianghuai Automobile Co. Ltd., local media on Monday quoted a press release of the U.S. company as saying.
The joint venture is formed after Cummins purchased Navistar's 50 percent equity of the JAC-Navistar Diesel Engine Company, the Inside Indiana Business website reported.
"Cummins and JAC share similar values. ... By strengthening our relationship, we can focus on becoming more competitive in our markets by developing and offering high-quality, clean and fuel-efficient products," Steve Chapman, Cummins Group Vice President for China and Russia, said in the press release.
The new joint venture will continue its operations at the manufacturing facility in Hefei, capital of east China's Anhui Province.
Cummins currently supplies light-duty, mid-range and heavy-duty engines to JAC Motors for its domestic market in China as well as its global operations.
"By integrating our equipment expertise with Cummins' world-class technological and power train capabilities, we are confident we have the right formula in place for tremendous success," said Xiang Xingchu, general manager of JAC Motors.
Chinese market contributed 5.56 billion U.S. dollars in sales for Cummins in 2017, growing 38 percent from the previous year. It is one of the largest and fastest growing overseas market for Cummins.
The company also maintains cooperation with a number of other Chinese manufacturers, including those based in the country's central and western parts. (www.chinatrucks.com)
Views:0
- JAC Receives an Order of 280 Light Electric Trucks from Brazil 2023-04-17
- JAC Exported a Thousand High-end Pickups to Europe 2023-03-16
- 34 Units of JAC light Trucks Were Delivered to Customer in Pakistan 2023-02-23
- JAC Strengthens Its Digital Marketing & Promotion in Peru 2023-02-21
- 165 JAC Pickup Trucks Were Delivered to a Saudi Arabia's Customer 2023-02-10
- 100 JAC electric light trucks and 500 JAC e-JS4 Cars Set off for Europe 2023-01-30
- JAC Brings 100% Electric Light Trucks on Display at FENATRAM Show 2022 in Brazil 2022-11-28
- JAC Is Among the Top Chinese Truck Brands in Chile 2022-11-28
- Not only Mexico and Vietnam, These Are Also the Most Important Export Markets 2022-10-14
- Which Is More Important: Products or Aftersales Service? 2022-10-10
Submit Your Requirements, We Are Always At Your Service.
- World’s First All-electric Scania Car Transporter Goes into Service
- China’s First Mining Specialized Remote Sensing Satellite Launched
- SINOTRUK Delivers Full Year 2022 Results, Heavy Truck Sales Down 52.50%
- FOTON and Cummins Team up to Build a New Engine Plant in Thailand
- SANY Awarded as 2022 Forbes China TOP 50 Sustainable DEV Industrial Enterprises
- Daimler Trucks and Buses Signs Deal with XCMG Fire Fighting
- FAW Jiefang Sichuan Branch Was Officially Established
- Bus & Truck Expo Set to be Held in May 2023
- Yutong, SCG Signed MoU for Green Mining in Thailand
- CAT Displays Its First Battery Electric Large Mining Truck
- Half Year Review of Commercial Vehicle Sales
- China Exported 63,000 Trucks in May, Up 33% YoY
- Top 10 Best-selling Battery-swapping Heavy Trucks in China in April
- China Exported 158,000 Trucks in Q1, Up 41% YoY
- China’s Truck Exports Grew by 43.8% YoY to 46600 Units in Feb., 2023
- China’s Heavy Truck Sales Rising 29% YOY to 77200 in Feb
- China Exports 567,000 Trucks in 2022, Hitting a New High in a Decade
- China’s Pickup Exports Jumped 65% YOY in 2022
- China's Truck Exports Grew by 42% YOY to 53,000 Units in November
- Heavy Truck Sales in China Fell by 9% YoY to 46000 Units in Nov.