9/11/2019
Voith and CRRC Expands their Strategic Alliance
Voith and CRRC will establish a two joint-ventures based in Beijing and Shanghai for research and development of railway vehicle and products. The two companies will also work together on the development of electric drive systems...
Competition is increasing in the international vehicle market. Chinese CRRC company which enters the market agressively and increases their market share has signed a new joint letter of intent with German Voith with which CRRC has agreed to establish two joint-ventures for railway vehicles and products earlier this year. According to information available in foreign media, Voith and CRRC, have agreed to sign an agreement to strengthen their co-operation in the rail and industrial sectors, as part of a framework agreement signed in Beijing on September 6, during a visit to China by Chancellor Angela Merkel. Earlier this year, Voith Turbo China and CRRC Beijing Nankou agreed to establish two joint ventures to focus on the rail sector, based in Beijing and Shanghai. These two joint ventures will undertake research and development, manufacturing, sales and after-sales services for a wide range of rail products, including gearboxes and other components for high speed and regional trains, metro cars and light rail vehicles. In the industrial sector, the two joint-ventures will work on the development and production of gearboxes and air compressors for the wind turbine sector. The two companies have now agreed to work together on the development of electric drive systems for the commercial vehicle market. In the latest letter of intent, it is stated to cover joint research and development of integrated propulsion systems and components for electric vehicles, as well as series production.
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