BEIJING, May 15 (Xinhua) -- China’s Anhui Jianghuai Automobile Group Corp., Ltd. (JAC) announced on Tuesday that it formed a 50:50 joint venture with U.S. engine manufacturer Cummins, with registered capital at 600 million yuan.
The joint venture is formed after Cummins purchased Navistar’s 50 percent equity of the JAC-Navistar Diesel Engine Company.
JAC Motors and Cummins agreed to make use of the joint venture to upgrade the performance of light-duty and mid-range engines and thus uplift the automobile’s whole value. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
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