SAIC, chipmaker Infineon form venture to make EV power modules in China
Chinese carmaker SAIC Motor Corp. and German chipmaker Infineon Technologies have agreed to set up a joint venture to make power modules for China’s electric vehicle market, the companies said.
The joint venture, to be named SAIC Infineon Automotive Power Modules and headquartered in Shanghai, will make the modules at Infineon's plant in Wuxi, China, they said.
Volume production is to start in the second half of 2018. SAIC Motor will hold a 51 percent stake in the joint venture, while Infineon will own the rest.
"Our joint venture will make us faster to serve the electric vehicle customers in China," said Jochen Hanebeck, a board member of Infineon, which supplies chips to control the batteries and motors in eight of 10 of the world's top-selling EVs.
Although China's auto market slowed sharply in 2017, sales of EVs, plug-in hybrids and fuel cell vehicles are forecast to increase 40 percent in 2018, topping 1 million vehicles.
The joint venture, to be named SAIC Infineon Automotive Power Modules and headquartered in Shanghai, will make the modules at Infineon's plant in Wuxi, China, they said.
Volume production is to start in the second half of 2018. SAIC Motor will hold a 51 percent stake in the joint venture, while Infineon will own the rest.
"Our joint venture will make us faster to serve the electric vehicle customers in China," said Jochen Hanebeck, a board member of Infineon, which supplies chips to control the batteries and motors in eight of 10 of the world's top-selling EVs.
Although China's auto market slowed sharply in 2017, sales of EVs, plug-in hybrids and fuel cell vehicles are forecast to increase 40 percent in 2018, topping 1 million vehicles.
