# 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.

- Type: Partnership
- Announced: 2017-10-19
- Where: Taicang, China
- Value: $30.0M (200.0M CNY)
- Status: announced
- Products: electric-drive powertrain systems
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Huayu Automotive Systems](https://endata.com/companies/1495.md) (partner)
- [Magna International](https://endata.com/companies/2534.md) (partner)

## Sources

- [autonews.gasgoo.com](https://autonews.gasgoo.com/articles/news/update-magna-sets-e-powertrain-joint-venture-with-huayu-automotive-systems-70010771), 2017-10-19: "Combining strengths with HASCO helps position Magna and the joint venture for future growth and success."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.