April 25, 2018 / 1:17 AM / a year ago

Geely-Aisin Seiki JV to produce automatic transmissions in China

FILE PHOTO: The Geely Automobile Holdings logo is pictured at the Auto China 2016 auto show in Beijing, China April 25, 2016. REUTERS/Kim Kyung-Hoon/File Photo

HONG KONG (Reuters) - Geely Automobile Holdings Ltd (0175.HK) said on Wednesday it would team up with Japanese automobile transmissions maker Aisin Seiki Co Ltd (7259.T) 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

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