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On May 10, 2018, the joint venture project of "Fashite Eaton (Baoji) Light Transmission Co., Ltd.", a high-tech Sino-foreign joint venture established jointly by Fast and Eaton, held a signing ceremony in Xi'an.
“Fashite Eaton (Baoji) Light Transmission Co., Ltd.†Signing Ceremony Vice Governor of Shaanxi Province Lu Zhiyuan and provincial government, Provincial SASAC, Provincial Ministry of Industry and Information Technology, Baoji Municipal Party Committee and Municipal Government, as well as related leaders of Fast, Eaton, and Weichai Power attended the signing ceremony. Friends of the media and representatives of some employees attended the signing ceremony. Signing ceremony. The signing ceremony was hosted by Ma Ji, standing member of the Baoji Municipal Party Committee and executive deputy mayor.
The mayor of Baoji City, Hui Jincai, and Ren Guo, Director of the Shaanxi Provincial State-owned Assets Supervision and Administration Commission congratulated the two parties on forming a joint venture company. He also hoped that the Fast Eaton light transmission project will be completed and put into operation as soon as possible to achieve the established objectives and become a joint venture, cooperation, and win-win for the whole province and even the whole industry. New models of development and new samples. In order to make the automobile industry a pillar industry in Shaanxi Province and achieve 3 million automobile engineering goals, it will make new and greater contributions.
The company chairman Yan Jianbo pointed out that the signing of the project marks another important step in the globalization and internationalization of Fast. In 2014, Fast and Eaton jointly established Fast Eaton (Xi'an) Power Transmission System Co., Ltd. in Xi'an. Fast and Eaton again joined forces to jointly establish Fastest Eaton Light Transmission Co., Ltd. This is another new chapter written by both parties in the cooperation development.
Chairman of the Fast Company Chairman Yan Jianbo speaks at the scene
Eaton Vehicle Group President Joao Faria (Fang Jiean) said that China's commercial vehicle market has developed rapidly and Fast has achieved great success in the fast-growing and increasingly demanding commercial vehicle market. The alliance with the Fast Company is another successful practice for both parties to follow the development trend of the automotive industry, marking the cooperation between the two parties entering a newer and higher stage.
The representatives of both Fast and Eaton signed a project agreement, announcing that they will cooperate in the development, production, assembly, testing, sales and service of light commercial vehicle transmissions, related transmission components and aftermarket spare parts.
Fastest Eaton (Baoji) Light Transmission Co., Ltd., a joint venture between Fast and Eaton, was registered in the Auto Industry Park in Gaoxin District, Baoji City, with a registered capital of 200 million yuan, of which Shaanxi Fast Gear Co., Ltd. accounted for. 51% of shares; 49% of Eaton. The project is expected to have a total investment of nearly 2 billion yuan. Upon completion, it will form a production capacity of 500,000 light commercial vehicle transmissions per year. It is estimated that the annual new sales revenue will not be less than 2.2 billion yuan.
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