Zhejiang Wan Liyang and ATESTEO Gear Research Center set up joint venture in China
ATESTEO GmbH (ATESTEO) further strengthens its presence in China. Today, ATESTEO Gear Research Center (China) Co., Ltd. (GRC), a wholly owned subsidiary of ATESTEO, and Zhejiang Wan Liyang Co., Ltd. (WLY) have set up the joint venture GRC Automotive Technology (Zhejiang) Co., Ltd. The signing ceremony took place in Hotel Grand Hyatt, Jinmao Tower, Shanghai. The joint venture will focus on engineering and technical development services for manual (MT), automatic (AT), continuously variable (CVT), double clutch (DCT) transmissions as well as plug-in hybrid (PHEV) as well as new energy vehicle (NEV) drivetrains.
The joint venture will combine WLY’s market resource and production experience with GRC’s advanced development technology and engineering experience. WLY’s product lines cover diversified automotive components like CV transmission, PC transmission and auto interiors, with an annual production capacity of one million PC transmissions. GRC offers world leading technology services in drivetrain and NEV testing and engineering. GRC is a member of the ATESTEO Group which operates over 120 test benches for drivetrain and powertrain globally, and builds on 30 years of experience.
The joint venture will be dedicated to improve traditional drivetrain know-how, and bridge the gap of transmission technology in China, as well as to satisfy the demand of OEMs in drivetrains for traditional and new energy vehicles. The core businesses of the two partnering companies remain unchanged. WLY continues to offer a diversified range of automotive components whereas GRC remains the partner of choice for its clients in drivetrain and NEV testing services. Additionally, the newly formed joint venture will offer independent engineering services and work closely with OEMs and component suppliers on R&D projects, which will contribute to the next stage of development of the Chinese and global automotive industry.
About ATESTEO Gear Research Center (China) Co., Ltd (GRC))
ATESTEO Gear Research Center (China) Co., Ltd (GRC) is a wholly owned enterprise of ATESTEO GmbH (ATESTEO), offering world leading technology services in drivetrain and NEV testing and engineering.
ATESTEO has established five advanced testing and engineering centers in Germany and China, and set up offices in North America, Japan and South Korea, with business covering areas and regions all over the world. Since its establishment in 2006 in China, GRC has won an excellent reputation among OEMs and transmission suppliers due to its most up-to-date technology, the systematic management style, and the persistent and flexible local service.
About Zhejiang Wan Liyang Co., Ltd. (WLY)
Zhejiang Wan Liyang Co., Ltd. (WLY), the first public listed company (002434) in automobile transmission industry in China, is a national high and new technology enterprise, with the national authenticated technical center and a R&D team of over 600 engineers. Wan Liyang is the first enterprise in China that completed R&D and production of transmission of sedan, SUV, Mini CV, LCV, HCV, PC, including MT, AMT and CVT. The product lines cover diversified automotive components like CV transmission, PC transmission and auto interiors. Starting its business from CV transmission, Wan Liyang’s market share ranked 1st domestically in 2010, with an annual sales of more than 800,000; in 2015, Wan Liyang expanded its business to PC transmission; acquiring MT business from Geely and CVT business from Chery respectively, WLY obtained product, technology and market in both field, and equipped itself with an annual production capacity of 1 million PC transmission.