JAC Motors Joint Venture Establishes Engine Company

G Jiangqi (Market News, Forum) (600418) today announced that the company intends to establish a joint venture with Dongfeng Chaoyang Diesel Engine Co., Ltd. to build a 102-series diesel engine for the G-gas auto, passenger car and passenger car chassis. After the joint venture company reaches production, it will reach an annual output of 50,000 sets of 102 series diesel engines.

The company also stated that the total investment of the joint venture company is 25 million yuan, of which the construction investment is 20 million yuan and the current capital is 5 million yuan; the proportion of the two parties' shares is Dongfeng Chaoyang Diesel Engine Company 90%, respectively. Forum) accounts for 10%.

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