American becoming less great again as Chinese pursue air quality goals and the Trump Administration gleefully abandons them.
Magna, BAIC Group and the Zhenjiang government have signed a framework agreement governing an electric vehicle manufacturing joint-venture in Zhenjiang, China. The transaction, pending regulatory approval and other closing conditions, is expected to close in the fourth quarter of 2019. Yes, a state-owned publicly traded car company.
This joint venture, 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. (Chinese take 10% stake in Daimler. Unwelcome?)
China blew past the US in 2015 to become the world’s largest market for new-energy vehicles. Startups and traditional automakers are gearing up to meet the Communist valium online buy government’s stated goal to increase sales of plug-in hybrids and fully electric cars by a factor of ten in the next decade. China, of course, has made electric vehicles a strategic initiative as part its increasingly successful drive to become a clear leader in automotive technology, increase air quality and decrease reliance on imported oil.
“Magna has proven experience building complete vehicles for customers,” said Günther Apfalter, President of Magna Europe and Magna Steyr
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.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Magna, BAIC Group and Zhenjiang Government form EV JV
American becoming less great again as Chinese pursue air quality goals and the Trump Administration gleefully abandons them.
Magna, BAIC Group and the Zhenjiang government have signed a framework agreement governing an electric vehicle manufacturing joint-venture in Zhenjiang, China. The transaction, pending regulatory approval and other closing conditions, is expected to close in the fourth quarter of 2019. Yes, a state-owned publicly traded car company.
This joint venture, 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. (Chinese take 10% stake in Daimler. Unwelcome?)
China blew past the US in 2015 to become the world’s largest market for new-energy vehicles. Startups and traditional automakers are gearing up to meet the Communist valium online buy government’s stated goal to increase sales of plug-in hybrids and fully electric cars by a factor of ten in the next decade. China, of course, has made electric vehicles a strategic initiative as part its increasingly successful drive to become a clear leader in automotive technology, increase air quality and decrease reliance on imported oil.
“Magna has proven experience building complete vehicles for customers,” said Günther Apfalter, President of Magna Europe and Magna Steyr
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.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.