On November 17, GKN Group announced that it will establish a new production plant and a new joint venture in China to further develop its business in China. Previously, GKN has just announced the acquisition of a leading Chinese automotive hub manufacturer.
The new joint venture, GKN Driveline Torque Technology, will build a new production plant in Shanghai's Kangqiao Industrial Zone with an initial investment of 34 million yuan. Graeme Walford, director and general manager of GKN Driveline Torque Technology, said: “The demand for our torque control technology in the Chinese market is growing rapidly. This is partly due to the dramatic increase in the local auto market, and also due to our ability to help our customers achieve technological leadership. status."
GKN Driveline Torque Technology will first produce a variety of gear components at Cambridge, and will offer differential gears, final drives, transfer cases and advanced torque control equipment as market needs evolve. The new plant will be put into production next year, and its location will fully take care of the convenience of its major customers and suppliers.
As a global company, GKN Driveline operates in more than 40 regions in more than 30 countries. In 2005, the company's sales revenue was 3 billion euros. As a globally recognized leader in the design and production of drive system components, GKN Driveline offers a complete drive solution for everything from the smallest front-wheel drive to the finest four-wheel drive vehicle. The company has a dominant market share in the global constant speed semi-axle market, and is also the world's leading full-time drive PTU (Power Transmission Device) manufacturer and torque control equipment manufacturer.