GKN Driveline, a global manufacturer of automotive driveline components, has extended its co-operation with Shanghai Automotive Industry Corporation (SAIC) for another 50 years.
The group was the first major European automotive supplier to invest in China and has automotive manufacturing operations in Kangqiao, Zhoupu and Shenjiang in Pudong, Shanghai, as well as plants in Chongqing and Wuhan.
The extension agreement was signed at a ceremony in London. Speaking at the event, Nigel Stein, chief executive at GKN Automotive, said: ‘Shanghai GKN serves as an industry model for successful joint-venture operations in China and we anticipate continued growth for years to come.
‘Over the last five years, Shanghai GKN has invested more than RMB1bn (about €100m) [£89m] to expand production in China, including major investments for new manufacturing facilities in Wuhan and Chongqing.’
Stein also confirmed that Shanghai GKN’s new 44,000m2 plant in Wuhan was on schedule and due to begin production later this year.