LINE

Text:AAAPrint
Economy

U.S. engine manufacturer Cummins builds joint venture with Chinese auto maker JAC

1
2018-05-15 13:31Xinhua Editor: Gu Liping ECNS App Download

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.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.