Chinese automaker GAC Group, parent company of GAC Motor, has completed the construction of a new “energy intelligent” and environmentally friendly factory. This is the first phase of project working toward the goal of achieving production capacity of 200,000 electric vehicles per year in the industrial park for electric and smart vehicle development.
GAC Motor and Aisin AW Co. Ltd., a subsidiary of Aisin Seiki, also hosted a foundation stone laying ceremony in the Industrial Park for their joint venture project manufacturing automatic transmissions. Provincial and municipal government officials, Zeng Qinghong, chairman of GAC Group, Feng Xingya, general manager of GAC Group, representatives of staff, investment companies, partners and media representatives attended the event on Dec. 23.
New Factory for New Energy and New Technology
Representing an investment of RMB 4.7 billion ($680 million US), the factory is the first project in the new Industrial Park. Construction started construction in September 2017. The factory will begin production in May, aiming to achieve annual production capacity of 400,000 vehicles. The GAC New Energy will release at least two electric vehicle models per year after that to enrich its product line and provide consumers with multiple options.
A Powerful Alliance, A Stronger Global Supply Chain
In April, GAC Motor and Aisin AW signed an in-depth cooperation agreement to open their new joint venture. An investment of RMB 2.13 billion ($310 million US) will pour into the project and its first product will go into production by the end of 2020, aiming to achieve annual production capacity of 400,000 AT units.
Yu Jun, president of GAC Motor said, “After construction completed, the joint venture project will bring remarkable economic and social benefits. Its estimated annual value of production will be more than RMB 3.5 billion ($500 million US). It will create many local jobs and cultivate more professionals in the field of automatic transmission manufacturing.”
Founded in 1969, Aisin AW is the world’s No.1 manufacturer of AT and car navigation systems. The 6-speed automatic transmission planned to be manufactured in the joint venture project, has been widely installed in GAC Motor’s vehicles including the GS8 and GS4.
As part of its commitment to producing top-quality vehicles, GAC Motor has built strategic partnerships with 18 of the world’s top auto suppliers, including Michelin, Denso, Continental and more, covering areas such as core components and smart technologies, enabling its global supply chain to adhere to the industry highest standards. The GAC Motor and Aisin AW’s joint venture will enable GAC Motor to push forward the sustainable development of its high-performance parts and components supply and establish stronger global supply chain.
