The latest news on May 14, 2018, it is understood that on May 11, 2018, Anhui Jianghuai Automobile Group Co., Ltd. and Cummins (Singapore) Trading Services Co., Ltd. signed a joint venture contract. Navistar intends to withdraw from the JAC Navistar JV and transfer its 50% stake in the JVC Navistar JV to Cummins.
Jianghuai Cummins Engine Co., Ltd. was established
Jianghuai Automobile announced that on July 4, 2012, Jianghuai Automobile and Navistar jointly established a joint venture company of Jianghuai Navistar in accordance with the ratio of 50:50. Given that Navistar intends to withdraw from the JVC Navistar JV, it will transfer its 50% stake in the JVC Navistar JV to Cummins.
Therefore, the Jianghuai Navistar Joint Venture Company will reorganize itself into a joint venture between JAC and Cummins that will jointly invest at 50:50. The registered capital of the joint venture company is still RMB 600 million. Both parties agreed to change the name of the Jianghuai Navistar JV to JAC Cummins Engine Co., Ltd. after the completion of the equity transfer and use the platform of the new joint venture company to upgrade the performance of the light and medium displacement engines to enhance the value of the entire vehicle. Positioning.
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