IAT plans to establish a joint venture named Fanchang IAT to promote the research and mass production of electromagnetic clutches
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IAT and Wuhu Huaan Zhanzhen signed a joint venture agreement to jointly invest in the establishment of IAT New Energy Powertrain (Fanchang) Co., Ltd., with a registered capital of 672 million yuan. IAT contributes 602 million yuan through equity and technology from its wholly-owned subsidiary, accounting for 89.58%; Wuhu Huaan Zhanzhen contributes 70 million yuan in cash, accounting for 10.42%. The joint venture will focus on the research and development and mass production of electromagnetic clutches, aiming to integrate industrial resources and enhance production capacity and customer response efficiency
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