Magna forming electric vehicle joint ventures in China
- June 18, 2018
Magna International Inc. has announced that it is forming two joint ventures with Beijing Electric Vehicle Co. (BJEV), China’s biggest electric vehicle manufacturer, to engineer and build EVs in China.
The joint engineering and manufacturing ventures will be housed in an existing plant in Zhenjiang that has the capacity to build 180,000 vehicles a year. The first vehicles will roll off the assembly line in 2020.
The facility will also offer engineering and vehicle manufacturing services to other customers, operating much in the same way as Magna’s Steyr venture in Graz, Austria.
The joint ventures with BJEV represent the first time Magna has boosted its car manufacturing capabilities since it formed the Steyr venture 20 years ago.
Image: Magna International Inc.