Fallbrook Forms Joint Venture in China
Fallbrook Technologies says it has signed a joint venture agreement with China’s Ningbo Shentong Group, a major supplier to the Chinese automotive industry, to develop and market Fallbrook’s continuously variable planetary (CVP) transmissions for electric-powered passenger cars and light trucks. The joint venture, named “Shentong Fallbrook CVT Company,” will operate out of Yuyao, Zhejiang province, China. Fallbrook says the joint venture will initially focus on developing the market for Fallbrook’s NuVinci CVP transmissions and electric vehicle drivetrain systems in China. Over time, the joint venture will begin manufacturing, marketing and selling NuVinci transmissions and drivetrain components to vehicle manufacturers in China and abroad.