Magna forms JV with BAIC subsidiary to build two new electric cars in China
Earlier this week, Canada-based car manufacturer Magna International announced that it is forming a joint venture with BAIC subsidiary Beijing Electric Vehicle Company for producing two new premium electric cars in China.
The joint venture (JV) which Magna is forming with Beijing Electric Vehicle Company will likely take over BAIC’s manufacturing facility located in Zhenjiang city in China’s Jiangsu Province. The facility has the capability to produce a maximum of 180,000 vehicles per year.
The production of the first units of the two new premium electric cars will likely be commenced by the JV in 2020. For the engineering and production work related to the two electric cars, the JV will apparently rely on third parties, as per an Electrive report.
The two new premium electric cars which Magna and the BAIC subsidiary will engineer and build for the Chinese market will probably be based on a new electric vehicle platform, on which a collaboration between Magna and BAIC commenced in April 2018.
Asserting that Magna and the BAIC subsidiary will “jointly develop and manufacture premium smart electric vehicles” which will be based on an open and sharing platform, BAIC Group Chairman Xu Heyi said: “From a strategic point of view, the establishment of the JVs will benefit both Magna and BAIC to further strengthen our business growth in China.”
In a move which will enable BMW to support the production of its new iX3 electric SUV, the German automaker has recently announced a new expansion of its battery factory in China.
In a recent announcement, US electric-scooter company Razor has said that it has launched its new electric scooter share service in Long Beach, after having received a permit from the city to operate the service.
Japanese electronics giant Panasonic has recently disclosed it is planning a 30 percent increase in the production of battery cells at Tesla Gigafactory 1 by the end of year 2018.
According to a recent confirmation by German automaker BMW via Reuters, the company has signed a battery-supply contract with Chinese battery manufacturer CATL.
German automaker Audi has released new images of its forthcoming all-electric e-tron quattro SUV, to highlight the vehicle’s towing capacity. The e-tron quattro SUV is scheduled for an official launch by the automaker by the end of 2018.
German automaker BMW has claimed that it has thus far delivered a total of “more than a quarter of a million electrified vehicles.”