BAIC Selects Magna For Complete Electric Vehicle Manufacturing

Magna to produce up to 180,000 electric vehicles per year in China for BAIC, starting in late 2020

The partnership between BAIC Group and Magna in China deepens as the two – with a blessing from the Zhenjiang government – agreed on a complete vehicle manufacturing joint venture.

According to a framework agreement, Magna for the first time will start complete vehicle manufacturing outside of Europe. The new joint venture will have a capacity of up to 180,000 cars annually and the first electric cars will be launched in late 2020.

The agreement envisions also an option to offer EV contract manufacturing services to other potential customers.

“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.”

Magna already is manufacturing in Austria the all-electric Jaguar I-PACE and plug-in hybrid BMW 530e iPerformance.

The most recent press release doesn’t reveal which models will be produced by Magna, but maybe it will be ARCFOX from BJEV (BAIC’s electric vehicle subsidiary) also expected in late 2020.

“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.”

Source: Magna

Source: Read Full Article