This joint venture, which is to be controlled by an affiliate of the BAIC Group, represents Magna’s first investment in a complete vehicle manufacturing facility outside Europe. It will combine Magna’s complete vehicle engineering and manufacturing expertise and BAIC’s local manufacturing, marketing and distribution footprint to support electric mobility in China. The facility has the capacity of up to 180,000 vehicles per year.
Günther Apfalter, President of Magna Europe and Magna Steyr said:
“Magna has proven experience building complete vehicles for customers. We are excited to work with BAIC to further strengthen Magna’s e-mobility capability in the largest global market for new energy vehicles.”
At the ceremony Mr. Zhang Xiyong, General Manager of BAIC Group said:
“BAIC’s long-term strategy, an open and sharing philosophy, and a collaborative and innovative mindset leads us toward the top partners like Magna”
In June 2018, Magna and BJEV announced they would jointly engineer and build premium electric vehicles for customers in China. In January 2019, the two sides celebrated the opening of a new engineering center and announced the groundbreaking of a new NEV test center in Zhenjiang.
The first production of electric vehicles, BJEV’s ARCFOX models, is expected for launch in late 2020. The joint venture will also be capable of offering EV contract manufacturing services to other potential customers.
Industries: Automotive & Road Transportation