China’s major heavy-duty auto transmission producer Shaanxi Fast Auto Drive Group Co., Ltd. has achieved a sales volume of 750,000, with a year-on-year increase of 6.6 percent in the first three quarters of the year.
The company has generated an output value of about 14.57 billion yuan (about 2.06 billion U.S. dollars), the highest during the same period since it was established in 1968, said Li Yan, the company’s deputy general manager.
Li said the company sold more than 900,000 auto transmissions in 2018, up 9.6 percent year on year.
Now the company can produce and sell one million transmissions, 50 million gears, 200,000 tonnes of auto castings and forgings every year.
The company now has an inventory of nearly 9 million auto transmissions in the domestic market, with its share exceeding more than 70 percent. The share of its global market stands at around 40 percent.
Thanks to the Belt & Road Initiative, the company’s products have been exported to more than 10 countries and regions, including the U.S., Japan, Australia, Eastern Europe, the Middle East and South America.
The construction of the joint-venture Fast & Maz Corporation began in the China-Belarus megalith industrial park on July 2 this year, which is the second overseas factory the company invested to build after its first in Thailand.