The companies also intend to establish a main production facility in the Changzhou National Hi-tech District, Jiangsu province.
The JV is expected to focus on the manufacture of several types of rail transit vehicles, which will be specifically designed for deployment in urban environments.
Its scope will include straddle-type and suspended monorail trains, magnetic suspension trains, tram vehicles, high-speed commuter trains and rubber-tyred metro vehicles and systems, as well as smart virtual rail systems and subway trains.
Changzhou Tiansheng New Materials is primarily engaged in the production of new macromolecule materials, in addition to the design of complete rail transit vehicles.
It also focuses on the research, development and production of core vehicle components by utilising new lightweight materials in its designs.
The company’s specialised competencies also extend to the assembly and supply of components for the vehicles.
The new JV is expected to become the first urban rail transit vehicle manufacturer to be owned by the Chinese Government and private investors.
It is also expected to become a leading rolling stock manufacturer in China’s new urban rail transit industry with government support.
In addition to design and development activities, China Railway New Rail Transit Vehicle will also supply engineering equipment and engage in the marketing and financing of its products.