Joint venture to produce electric-drive powertrain for a German automaker.
The agreement with Huayu Automotive Systems Co. Ltd., a subsidiary of SAIC Motor, will initially produce an electric-drive powertrain for an unnamed German automaker.
Magna, a global automotive manufacturer based in Aurora, Ont., said production of the system will be aimed mainly at the Chinese market. The partners will focus on localized core competencies in market development, R&D, advanced manufacturing and key parts supply such as gearboxes, inverter components and e-motors.
“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,” said Don Walker, Magna CEO. “Combining strengths with HASCO helps position Magna and the joint venture for future growth and success.”
Magna has been supporting customers in the US and Europe from concept to production with products for battery electric and plug-in hybrid vehicles.
In 2009, it partnered with the Ford Motor Co. to introduce the Ford Focus BEV a zero-emission lithium-ion battery electric vehicle (BEV) which entered the market in 2011 and is available today.
The company provided the electric motor and control module, and was involved in the engineering to integrate the propulsion and other new systems into the vehicle architecture.
Since 2012 Magna has supplied Volvo with the electrified rear axle drive system (eRAD) for the Volvo V60 and S60 plug-in hybrids. The system complements a traditional gas- or diesel-engine front-wheel-drive powertrain with an independent electric powertrain to power the rear wheels.
Magna has 327 manufacturing operations and 100 product development, engineering and sales centres in 29 countries.