- Agrees to form joint venture with Shaanxi Fast Auto Drive
Group
- High-voltage inverter for commercial vehicles
strengthens BorgWarner's product portfolio
AUBURN
HILLS, Mich., Jan. 10,
2024 /PRNewswire/ -- BorgWarner is continuing to
expand its product portfolio for battery electric and hybrid
commercial vehicles by agreeing to form a joint venture with
Shaanxi Fast Auto Drive Group, a China-based market-leading commercial vehicle
(CV) parts supplier specializing in transmission and drivetrain
systems.
"By jointly working on a high-voltage inverter application for
high efficiency vehicles such as heavy-duty trucks and off-road
vehicles, this joint venture will support our business growth for
power electronics in the electrified commercial vehicle market,"
said Stefan Demmerle, President and General Manager,
BorgWarner PowerDrive Systems. "Our strong engineering footprint in
China enables us to quickly
accelerate product development to commercialize highly efficient
inverter technology."
"With solid technology, powerful R&D capabilities and
integrated supply chain, BorgWarner is a well-known global
product leader in inverters for new energy vehicles. FAST group is
a China-based market-leading
solution provider specializing in CV transmission and drivetrain
systems as well as high-end intelligent manufacturing equipment,"
said Xuyao Ma, Chairman of FAST Group. "With electrification,
connectivity, autonomous driving, and shared mobility transforming
the automotive industry in China,
the penetration rate of CV in the new energy sector is growing
rapidly. The joint venture will increase our customer value by
providing state-of-the-art inverter product and propulsion
solutions in the commercial vehicle market."
BorgWarner believes bringing together its cutting-edge
technology, customer intimacy, and deep electrification expertise
with Shaanxi Fast Auto Drive Group's commercial vehicle expertise
and customer relationships will support the accelerated growth of
electrification in the commercial vehicle space.
Subject to regulatory approval, we expect to establish the joint
venture in the first quarter of 2024.
About BorgWarner
For more than 130 years, BorgWarner
has been a transformative global product leader bringing successful
mobility innovation to market. Today, we're accelerating the
world's transition to eMobility – to help build a cleaner,
healthier, safer future for all.
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