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Magna Partners with BAIC to Make EVs in China
Canada’s Magna International Inc. has formed two joint ventures with Beijing Electric Vehicle Co. (BJEV) to build electric cars in China, starting in 2020.
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Canada’s Magna International Inc. has formed two joint ventures with Beijing Electric Vehicle Co. (BJEV) to build electric cars in China, starting in 2020.
The partnerships will be responsible for the engineering and production of upcoming EVs, which will be assembled at an existing BAIC Group manufacturing facility in Zhenjiang, Jiangsu. The plant has the capacity to build 180,000 vehicles per year. BAIC owns BJEV, which is China’s largest EV producer.
Earlier this year Magna and BAIC announced plans to jointly develop an EV platform for China. The partners say the new joint ventures also could provide engineering and/or production services to other carmakers. Magna has produced vehicles on a contract basis for carmakers for more than 20 years through its Magna Steyr facility in Graz, Austria.
BAIC plans to phase out its own conventional and hybrid models in favor of all-electric vehicles by 2025. Last July, the Chinese carmaker also agreed to spend 5 billion yuan ($735 million) with partner Daimler AG to make Mercedes-Benz electrified vehicles in China.
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