Anhui Cummins Power Co., Ltd. will mainly produce high-efficiency light and medium-sized engines that meet the needs of the automotive market. In addition to the installation of JAC, it will also supply domestic and overseas OEM customers. In May 2018, Cummins signed a transaction document with JAC and Navistar, and Cummins will receive a 50% stake in the joint venture from Navisda. A few days ago, the above-mentioned equity transaction has completed all government approvals and filings, and the equity delivery has been completed. The joint venture company was officially renamed: Anhui Cummins Power Co., Ltd. (hereinafter referred to as Anhui Cummins), and Jianghuai Automobile and Cummins each held 50% of the shares. The National Sixth Emissions Standard will be implemented in Beijing and other regions as early as July 2019. In order to better meet the challenges of the National Sixth, Anhui Cummins will be committed to the upgrading and upgrading of the Hefei production base, and comprehensively upgraded in the fields of product, technology, manufacturing, quality, supply chain, management, and service. In order to provide more competitive and efficient power to the market, the joint venture will optimize the existing product line and introduce Cummins' new B-series product platform, tailored to the national six emissions and the Chinese market and user needs. Strict emission regulations while achieving continuous improvement in performance and efficiency. Cao Side, Group Vice President of Cummins' China and Russia business, said: "I am very pleased to be able to formally start a joint venture partnership with JAC. Our win-win cooperation over the past 20 years has laid a solid foundation for the success of the new joint venture. Cummins and Jianghuai Automobile has complementary advantages and is committed to promoting the success of its customers with the spirit of continuous innovation and the quality of lifelong trust. This will be transformed into the unique advantage of Anhui Cummins, which will continue to achieve excellence in the market in the sixth and future countries." Xiang Xingchu, general manager of Jianghuai Automobile, said: “The new joint venture has injected a new vitality into the Chinese commercial vehicle industry. Anhui Cummins will effectively cooperate with Jianghuai Automobile and Cummins in the power and vehicle technology fields to create a unique and We are more competitive in the market and we will support the development of the joint venture company. We also believe that it will become a tool to promote Jianghuai Automobile's continuous development in domestic and overseas markets." Cummins and Jianghuai Automobile have had long-term cooperation for 20 years. Cummins light, medium and heavy-duty engines are widely used in different models of JAC, and are used in domestic and overseas markets.
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Anhui Cummins Power Co., Ltd. was formally established
On December 26, 2018, Anhui Hefei, Cummins Inc. (NYSE: CMI) and Anhui Jianghuai Automobile Group Co., Ltd. (hereinafter referred to as Jianghuai Automobile, Shanghai Stock Exchange stock code: 600418) announced that both parties 50 : 50 peer-to-peer joint venture - Anhui Cummins Power Co., Ltd. was formally established.