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Magna and HASCO form e-powertrain joint venture in China · Endata

◂ Announcements

Oct 19, 2017PARTNERSHIPTaicang, China

Magna and HASCO form e-powertrain joint venture in China

Magna International and Huayu Automotive Systems (HASCO) signed a joint venture agreement to form Huayu Magna in Taicang, China. The JV has registered capital of RMB 200 million, with HASCO holding 50.1% and Magna 49.9%. It will supply electric-drive powertrain systems for a German carmaker and VW's MEB platform, with production expected in 2020.

Value

$30.0M (200.0M CNY)

Status

Announced

Productselectric-drive powertrain systems

CompaniesHuayu Automotive Systems partner Magna International partner

Sectors#Automotive Components

“Combining strengths with HASCO helps position Magna and the joint venture for future growth and success.”autonews.gasgoo.com

1 source
autonews.gasgoo.comUPDATE-Magna sets e-powertrain joint venture with Huayu Automotive Systems | GasgooMaryOct 19, 2017

Summarized from public sources; check the original articles before acting on it.

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