Fallbrook In Chinese Joint Venture

San Diego-based Fallbrook Technologies, the developer of electric vehicle and other transmission technology, announced today that it has inked a joint venture agreement with Chinese firm Ningbo Shentong Group. Fallbrook said the two are in an agreement to develop and market its continuously variable planetary (CVP) transmissions to the electric powered passenger car and light truck market in China and abroad. Financial details of the joint venture were not disclosed. Fallbrook said the new venture, Shentong Fallbrook CVT Company< ltd., will be based in the Zhejiang province of China.