On April 8, 2011, Shaanxi Fast Gear Co., Ltd., the largest manufacturer and supplier of heavy-duty vehicle transmissions in China, joined forces with Caterpillar Inc., a Fortune 500 company. They formally signed a joint venture contract in Xi’an and a joint venture between the two companies. 51% of Fast Gear Co., Ltd., 4% of Fast Group, and 45% of Caterpillar) established Xi'an Shuangte Intelligent Transmission Co., Ltd. to develop and manufacture a full range of heavy-duty hydraulic automatic transmissions (AT) for commercial vehicles on highways and Other export parts fully meet the needs of the domestic and foreign markets for hydraulic automatic transmissions.
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Xi'an Shuangte Intelligent Transmission Co., Ltd. is located in Xi'an High-tech Zone, covers an area of ​​264 acres, a total investment of 1 billion yuan, mainly through the introduction of Caterpillar advanced CX series of heavy-duty hydraulic automatic transmission (AT) technology, Production, sales, and redevelopment of heavy-duty AT transmissions, and supply Caterpillar with the necessary construction machinery parts such as gears, housings, and miscellaneous items. After reaching production capacity, it can form an annual production capacity of 120,000 sets of heavy-duty hydraulic automatic transmission (AT) and 1.5 million engineering machinery parts and components, achieving an annual sales income of more than 10 billion yuan. The first phase of the project is expected to be completed by the end of 2013.
Caterpillar Inc. is the world's largest manufacturer and marketer of earthmoving machinery and construction machinery. It is also one of the world's largest manufacturers of diesel engines, gas engines and industrial gas turbines. It has a global leader in hydraulic drive R&D and manufacturing. Advantage. In 2010, Caterpillar achieved sales revenue of more than US$41 billion, ranking first in the global construction machinery industry and ranking 229 in the Fortune 500. Xi'an Shuangte Intelligent Transmission Co., Ltd. is the only company that has established a joint venture with Fast to develop and manufacture a hydraulic automatic transmission (AT).
Fast is the largest professional manufacturer and export base in China with heavy-duty automobile transmissions, automotive gears, and castings and forgings. With total assets of more than 10 billion yuan, it has five major production bases in Xi'an, Baoji and Xianyang. , integrating scientific research, development, manufacture and sales, has formed an annual production and sales capacity of 1 million automobile transmissions, 50 million gears, and 100,000 tons of automotive forgings. The automotive transmission products have been implemented in the 4th to 20th gear market. Full coverage, with a wide range of customer base and market awareness at home and abroad. In 2010, the sales and sales income of Fast achieved a breakthrough of 12.6 billion yuan, making it the first company in the gear industry to produce more than 10 billion yuan. All operating indicators ranked first in China's gear industry for nine consecutive years, and annual sales of heavy-duty transmissions have ranked first in the world for five consecutive years. With a domestic market share of 80% and a market holding of more than 3 million units, it has become a well-known brand at home and abroad.
Wu Dengchang, Vice Governor of Shaanxi Provincial People's Government
The combination of the two sides can fully leverage Caterpillar's technological leadership and Fast's comprehensive competitive advantage in manufacturing, cost control, customer development, market branding and sales services. Complementing each other's advantages will help break the monopoly of foreign companies in the domestic heavy-duty hydraulic automatic transmission market, and accelerate the development of domestic automatic transmissions through learning, innovation, and promotion.
During the "12th Five-Year Plan" period, China's economy is still growing steadily, which lays a solid foundation for the sustainable development of the automotive industry. The heavy-duty hydraulic automatic transmission (AT) will usher in a golden period of rapid growth in the next few years. At present, the automatic transmissions (ATs) installed in commercial vehicles during the Chinese New Year are all dependent on imports. With the development of urban public transport and tourism, the proportion of passenger cars equipped with AT automatic transmissions will increase by 20% in the coming years. After 10 years, the proportion of passenger cars equipped with AT is expected to rise to 50%, and will expand to high-end heavy trucks, terminal tractors, off-road vehicles, and other specialty vehicle markets. The future market is huge.
Fast and Caterpillar have a long-term basis for good cooperation, and both parties have established a cooperative relationship of mutual trust, mutual benefit and mutual benefit. Caterpillar expects to collaborate in the production of high-speed commercial vehicle automatic transmission (AT) and export engineering machinery components to achieve its vision of important planning, while Fast is expected to use its leading dominance in the field of mechanical transmissions. Rapidly expanding into the field of automatic transmission market, we will broaden the road for full access to a wider range of complete vehicle markets. The joint venture established Xi'an Shuangte Intelligent Transmission Co., Ltd. not only further consolidated and extended the cooperation between the two sides in exporting parts, but also established a cooperation between Fast and Caterpillar in the development of AT transmissions and the wider field. Broad platform.
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