On May 16, Faust group held the opening ceremony of Shaanxi Fast Auto Drive Engineering Research Institute Baoji Base and Fast Eaton (Baoji) Light-Duty Transmission Co., LTD at Baoji medium and light duty transmission base. Yang Wangyu, Secretary of the Party Work Committee and Director of the Management Committee of Baoji high-tech zone, and Mr. Yan Jianbo, Party Secretary and Chairman of Fast group, jointly inaugurated the the new base and the new company. Mr. Ma Xuyao, General Manager of Fast group, presided over the unveiling ceremony and introduced relevant information. More than 200 people in the Baoji factory, including middle-level cadres and employee representatives, participated the unveiling ceremony.

Fast Auto Drive Engineering Research and Development Institute has the domestic first-class scientific and technological research and development platform and independent innovation system, with the domestic leading product test center and trial production center. It has more than 1000 employees, and over 1000 core technology patents. Research Institute Baoji Base is mainly responsible for the research and development and application of forging parts, bus transmissions, light-duty transmissions, reducers and other products. Fast Eaton (Baoji) Light-Duty Transmission Co., Ltd. mainly produces light-duty transmissions and parts, which can achieve an annual sales revenue of 2.5 billion yuan after full production, which boosts Baoji factory into a billion annual sales revenue times.