Magna and BJEV to form joint ventures for electric vehicle manufacturing in China

Magna announced its intention to form two new joint ventures with Beijing Electric Vehicle Co. Ltd (BJEV) for complete vehicle manufacturing and engineering of electric vehicles. The joint ventures will take over an existing BAIC manufacturing facility in Zhenjiang, Jiangsu Province, with capacity to build up to 180,000 vehicles per year, with first production planned for 2020.

“These joint venture operations mark an historic milestone for Magna.”automotiveworld.com

• 3 sources
• automotiveworld.comMagna to jointly engineer and build premium electric vehicles for customers in China | Automotive WorldWebmasterJun 18, 2018
• news.cgtn.comAuto parts supplier Magna partners China's BAIC on NEVs - CGTNNicholas MooreJun 19, 2018
• financialpost.comMagna deal with Chinese carmaker BAIC raises prospects of 'automotive Foxconn' for electric vehicles - Financial PostReutersJul 23, 2018

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