China's first domestically designed eight-speed automatic transmission was recently launched in Weifang city. Industry insiders said it will break the German and Japanese monopoly on the market for high-end automatic transmissions in China. According to its developer, Shengrui Transmission Corp, the product provides eight forward gears and one reverse gear, but its cost is only equal to that of a five-speed transmission. Domestic SUV maker Landwind will be the first customer.

(Source: China Daily)