Magna has entered into a joint-venture agreement with Huayu Automotive Systems, a subsidiary of SAIC Motor, initially to produce an electric drive powertrain system for a German automaker.

For the initial customer order, the JV will leverage Magna’s innovative, highly integrated e-drive system with a focus on the production of the system mainly for the Chinese market. Both partners will give the JV full support to develop the local market, R&D, advanced manufacturing and key parts supply such as gearboxes, inverter components and e-motors.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

“The new-energy vehicle (NEV) market will continue to grow at a rapid speed in China. With this trend, SAIC Motor is developing the New Four Modernisation strategy focusing on car electrification, connectivity, intelligence, and sharing economy,” Chen Zhixin, president of SAIC Motor and vice chairman of HASCO, said.

“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,” said Don Walker, Magna CEO. “Combining strengths with HASCO helps position Magna and the joint venture for future growth and success.”

See Also:

Magna possesses the skills and experience to develop and manufacture electrified powertrains. This includes all key components for modern e-drive systems: e-motor, gearbox, inverter and control software. For nearly 10 years, Magna has been supplying customers in the US and Europe from concept to production with products for battery electric and plug in hybrid vehicles.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In 2009, the company announced a vehicle development partnership with Ford to introduce a zero-emission lithium-ion battery electric vehicle (BEV) – this became 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 key role in the engineering to integrate the electric propulsion system and other new systems into the vehicle architecture.

Additionally since 2012 Magna has 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 petrol or diesel front wheel drive powertrain with an independent electric powertrain to power the rear wheels. This system offers multiple hybrid driving modes while also adding four wheel drive capability.