Michigan-based engine producer EcoMotors has set up a joint venture in China with First Auto Works Jingye Engine Company, a subsidiary of First Auto Works, Reuters reported. The FAW subsidiary is investing more than US$200 million in the venture, BEM (Shanxi) Co, which aims to begin building an advanced engine designed by EcoMotors in 2015 in China’s Shanxi province. It is the second China venture for EcoMotors, a suburban Detroit startup backed by Microsoft founder Bill Gates and venture capitalist Vinod Khosla, which announced a similar deal last April with China’s Zhongding Power.
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