TAGS: Automotive
Magna, BAIC Group and Zhenjiang Govt have entered into a joint venture to start electric vehicles production in China. 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.
“We are excited to work with BAIC to further strengthen Magna’s e-mobility capability in the largest global market for new energy vehicles,” said Günther Apfalter, President of Magna Europe and Magna Steyr.
Magna’s First Investment Outside Europe
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 unique 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.
About Magna
Magna specializes in vehicle engineering and contract manufacturing expertise, as well as product capabilities, which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mirrors & lighting, mechatronics and roof systems.
Source: Magna International Inc.