On September 26th, Anhui Jianghuai Automobile Co., Ltd. convened a meeting of the board of directors, which reviewed and approved the "Proposal on Establishing a Joint Venture with Dongfeng Chaoyang Diesel Engine Co., Ltd.".
In this motion, Jianghuai plans to establish a joint venture engine company with Dongfeng Chaoyang Diesel Engine Co., Ltd. The joint venture company will be a series 102 diesel engine for JAC Automotive light vehicles and passenger cars. After the joint venture is put into production, it will reach an annual capacity of 50,000 sets of 102 series diesel engines.
It is reported that the total investment of the joint venture company is 25 million yuan, of which construction investment is 20 million yuan and current capital is 5 million yuan. The proportion of the shares held by the two parties is 90% for Dongfeng Chaoyang Diesel Engine Company and 10% for JAC.
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