BorgWarner's New Venture Targets Chinese Electric Commercial Vehicle Market Growth
BorgWarner and Shaanxi Fast Auto Drive Group join forces in a strategic venture to accelerate the growth of electrification in commercial vehicles, focusing on developing high-voltage inverter technology for heavy-duty trucks and off-road vehicles in the Chinese market.
Auburn Hills, United States- BorgWarner Inc., is set to broaden its product range for battery electric and hybrid commercial vehicles through a newly announced joint venture with Shaanxi Fast Auto Drive Group, a China-based supplier specializing in transmission and drivetrain systems for commercial vehicles (CV). The collaboration aims to focus on developing a high-voltage inverter application tailored for highly efficient vehicles like heavy-duty trucks and off-road vehicles, thereby bolstering BorgWarner's presence in the electrified commercial vehicle market.
Stefan Demmerle, President and General Manager of BorgWarner PowerDrive Systems, emphasized the joint venture's significance in supporting business growth for power electronics. He highlighted the partnership's ability to leverage BorgWarner's robust engineering capabilities in China for swift product development, particularly in the commercialization of advanced inverter technology for high-efficiency vehicles.
Xuyao Ma, Chairman of FAST Group, underscored the synergies between the two entities, citing BorgWarner's global leadership in inverters for new energy vehicles and FAST Group's expertise in CV transmission, drivetrain systems, and intelligent manufacturing equipment. Ma expressed confidence in the joint venture's ability to enhance customer value by delivering cutting-edge inverter products and propulsion solutions in response to the growing demand for new energy commercial vehicles in China.
The collaboration is seen as a strategic move by BorgWarner to combine its advanced technology, customer-focused approach, and extensive electrification knowledge with Shaanxi Fast Auto Drive Group's commercial vehicle specialization and existing customer relationships. The goal is to facilitate the rapid expansion of electrification within the commercial vehicle sector.
Pending regulatory approval, the joint venture is anticipated to be established in the first quarter of 2024. This initiative reflects BorgWarner's commitment to staying at the forefront of the evolving automotive landscape, where electrification, connectivity, autonomous driving, and shared mobility are reshaping the industry in China and beyond.
