The world's top CVT manufacturer JATCO has recently declared that they will invest 3 hundred million yuan($44 mln ) to build up its second overseas plant in Guangzhou, reports China Business News on Monday.

The new plant, the second Jatco oversea facility after Mexico, will manufacture CVTs to be used in Nissan's Teana, Sylphy, X-Trail and Qashqai models. Annual production capacity at the plant is expected to reach 140,000 units.

"CVTs, such as those produced at JGZ, significantly contribute to the improvement of vehicle fuel efficiency and the reduction of CO2 emissions, and are highly praised as an important environmental technology," Shigeo ISHIDA, CEO of JATCO said at inauguration ceremony of the new plant.

In the future, automatic transmission is expected to hold 60% market share in Chinese market. Among them, CVT will probably occupy a 15%, which means 1.8 million CVTs will be sold each year, according to the report.

JATCO is a subsidiary of Nissan which manufactures automatic transmissions for automobiles. It began manufacturing belt CVTs in 1997, and has maintained its position as the industry leader since then. In 2008, JATCO held a 43% share of the global production of CVT, the highest share in the industry.