On December 28, 2005, the Shaanxi Fast Automotive Transmission Group Co., Ltd. was officially established in Xi'an, following approval from the Shaanxi Provincial People's Government. This marked a significant step in the development of the automotive transmission industry in the region.
The company was formed through the overall restructuring of the Shaanxi Automobile Gear General Factory, with a registered capital of 500 million yuan and total assets reaching 3 billion yuan. It operates several subsidiaries, including Shaanxi Fast Gear Co., Ltd., Xi'an Fast Automobile Transmission Co., Ltd., Baoji Fast Gear Co., Ltd., Baoji Fast Casting Co., Ltd., Xi'an Fast Pto Corp., American Fast Distribution Co., Ltd., and Eaton Fast (Xi'an) Co., Ltd. Together, these entities have an annual production capacity of 360,000 heavy-duty transmissions, 15 million gears, and 80,000 tons of automotive forgings.
The origins of the Shaanxi Fast Automotive Transmission Group can be traced back to the Shaanxi Automobile Gear General Factory, which was founded in 1968. As a state-owned third-tier enterprise, it played a crucial role in China's early automotive industry and was the first manufacturer of heavy-duty transmissions in the country. Over the past 37 years, the factory went through three key developmental stages: initial entrepreneurship, reform and growth, and restructuring. It eventually evolved into a major backbone enterprise in China's automotive sector.
Throughout its history, the company successfully cleared all historical debts and bank loans, while also achieving the appreciation of state-owned assets. Its efforts contributed significantly to the local economy, generating substantial tax revenue for industrial enterprises in Shaanxi Province. The formation of the Shaanxi Fast Automotive Transmission Group Co., Ltd. represented a milestone in the transformation from the original Shaanxi Auto Gear Factory to a modern, integrated group, providing greater opportunities for future expansion and sustainable growth.
In line with the "Company Law" and the requirements for building a modern enterprise system, the company is committed to improving its corporate governance structure under the supervision of state asset management authorities. It aims to protect the interests of the state, the enterprise, and its employees, while accelerating its autonomy and innovation. The company continues to focus on developing independent brands, investing heavily in key technologies and core intellectual property, with the goal of establishing a globally recognized brand in the automotive transmission industry.
For more information: Fast: Heavy-duty transmission production and sales worldwide.
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