Supplier BorgWarner Inc. said today it will form a joint venture with a consortium of 12 Chinese automakers to manufacture dual-clutch transmissions in China.
BorgWarner signed the joint venture contract with China Automobile Development United Investment Co. Ltd., a company owned by Chinas largest automakers -- FAW, SAIC, Dongfeng, Chery, ChangAn, Brilliance, Guangzhu, Changfeng, JAC, Geely, Polarsun and Great Wall Motor.
BorgWarner holds a 66 percent majority stake in the joint venture.
Tim Manganello, BorgWarner CEO, said in a statement the joint venture will establish the companys DualTronic dual clutch transmission technology as the preferred automatic transmission in China.
BorgWarner is honored to join CDUI and its 12 Chinese OEM partners in bringing the benefits of DualTronic technology -- improved fuel economy, lower emissions and a dynamic yet comfortable drive experience -- to the growing automatic transmission market in China, Manganello said.
BorgWarner, based in suburban Detroit, ranks No. 30 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $5.33 billion in 2007.