BorgWarner announced it 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 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,” said Xuyao Ma, Chairman of FAST Group.