Eaton and Shaanxi Fast Gear form JV for light-duty manual transmissions in Asia-Pacific, Eastern Europe, and Africa
Eaton and Shaanxi Fast Gear (SFGW) signed a joint venture agreement to manufacture manual transmissions for light-duty commercial vehicles. The formation of the joint venture is subject to regulatory approvals and customary closing conditions.
The planned joint venture will be based in the High Tech Zone of Baoji City, Shaanxi Province, China, and will develop, manufacture, sell, and service manual transmissions for the large and fast growing light-duty truck market in China. In addition, the joint venture will sell its products throughout the rest of Asia-Pacific, Eastern Europe, and Africa.
SFGW, headquartered in Xi’an, China, will own a 51% interest in the new joint venture, with Eaton to hold a 49% interest.
Eaton and SFGW are currently partners in a joint venture, Fast Eaton Clutch, that develops, manufactures, and services clutches and associated clutch components in China. Fast Eaton Clutch is based in Xi’an, China, and has seen a significant increase in sales since starting operations in 2014.
SFGW was founded in 1968. It owns and joint-owns more than 10 subsidiaries, a factory in Thailand of sole proprietorship and a distribution company in the US. SFGW develops, manufactures and sells a series of products, including Hydraulic AT; AMT; S-Series Transmission; Bus Transmission; Light-Duty Truck Transmission; and Hydraulic Retarder, Clutch, Reducer; as well as new energy products such as Wheel Reducer and Electric Vehicle Drive System.