CBI member GKN and HUAYU Automotive Systems Co. Ltd. (HASCO) recently announced a major expansion of their Chinese joint venture—Shanghai GKN Driveshaft Co. Ltd. (SDS).
This development will make SDS a leading supplier of all-wheel drive (AWD) and electric-drive (eDrive) systems to these fast-growing segments of the Chinese car market.
SDS is the largest driveshaft manufacturer in China, and the expansion extends the scope of the joint venture to cover the complete GKN Driveline capability, including AWD and eDrive components and systems.
As a result of this development, GKN Driveline's wholly-owned facility in Shanghai will become part of the expanded joint venture.
Andrew Reynolds Smith, Chief Executive, GKN Automotive, said, "China is the world's largest car market, and, together with our partner HASCO, GKN has built a fantastic market leading position for SDS over the last 25 years.
Today's announcement provides the platform to accelerate our business in the fast growing Chinese SUV and all-wheel drive market. This is a very important step as we continue to grow by leveraging GKN's leading technology and global footprint."
Please click here to read the full press release by GKN.