Magna forms joint venture for electric-drive powertrain production in China

November 18, 2017

Magna forms joint venture for electric-drive powertrain production in China

Magna’s electric-drive powertrain system will now be produced for the Chinese market (Courtesy Magna International)

 

Global automotive supplier Magna International Inc., Aurora, Ontario, Canada, as entered into a joint venture agreement with SAIC Motor subsidiary Huayu Automotive Systems Co., Ltd. (HASCO), Shanghai, China. The JV will initially be focused on the production of Magna’s electric-drive powertrain system for the Chinese market.

Both partners report that they will give the JV full support to develop localised core competencies in terms of market development, R&D, advanced manufacturing and key parts supply such as gearboxes, inverter components and e-motors. Magna brings to the JV ten years of experience as a developer and manufacturer of electrified powertrains including e-motors, gearboxes, inverters and control software.

“The new-energy vehicle (NEV) market will continue to grow at a rapid speed in China,” stated Chen Zhixin, President of SAIC Motor and Vice Chairman of HASCO. “With this trend, SAIC Motor is developing the New Four Modernisation strategy focusing on car electrification, connectivity, intelligence and sharing economy. The establishment of the JV, a strong combination of HASCO and Magna’s strength to initiate cooperation in NEV electrified powertrain systems, has been a milestone for HASCO to develop its core competencies in the field of key new-energy-related components, as well as a critical measure to strengthen the New Four Modernisation strategy for SAIC.”

“China is the number-one growth market in the world, and they have been clear about their intended leadership in bringing hybrid and electric vehicles to market,” added Don Walker, Magna CEO. “Combining strengths with HASCO helps position Magna and the joint venture for future growth and success.”

In 2009, Magna announced a vehicle-development partnership with Ford Motor Company to introduce a zero-emission lithium-ion battery electric vehicle (BEV) – the Ford Focus BEV, which entered the market in 2011. Magna was responsible for providing the electric motor and electronic control module, and also played a role in engineering the vehicle to integrate the electric propulsion system and other new systems into the vehicle architecture.

Since 2012, Magna has also supplied Volvo with the electrified rear axle drive system (eRAD) featured on the Volvo V60 and S60 plug-in hybrid models. Magna’s eRAD system complements a traditional gas- or diesel-engine front-wheel-drive powertrain with an independent electric powertrain to power the rear wheels and offers multiple hybrid driving modes while adding four-wheel-drive capability.

www.magna.com

www.huayu-auto.com

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