BorgWarner launches JV with Chinese firm

U.S. transmissions giant BorgWarner and China Zhongfalian Investment Co. Ltd. have jointly announced that they will cooperate in founding an automatic transmissions joint venture in China with an investment of 1.38 billion yuan (US$201 million). The joint venture is expected to have an annual production capacity of 1.50 million transmissions. China needs to import automatic transmissions for automobiles, amounting to more than 10 billion yuan (US$1.46 billion) each year. (December 2, 2008)