The agreement was signed on April 8 in Beijing between Günther Apfalter, president, Magna Europe and Magna Steyr, and Xu Heyi, chairman of BAIC Group.
The BAIC Group (Beijing Automotive Industry Holding Co) of China and Magna have announced that they will jointly develop a next-generation smart electric vehicle architecture for the Chinese market.
China is currently the leading market for electric mobility in the world, with around 700,000 electrified cars sold in 2017. By 2020, the number of all-electric cars on China’s roads is forecast to reach around five million, due in part to subsidies and quotas by the Chinese government.
Magna Steyr was selected to be BAIC’s partner due to its innovative and cost-effective solutions throughout its complete vehicle manufacturing and engineering services as well as its full-scale electronic/electrical architecture and lightweight technologies. “We are proud to develop the next generation of advanced smart EV architecture together with BAIC,” said Günther Apfalter, president of Magna Europe and Magna Steyr. “This is a further big step forward for Magna in vehicle electrification for the Chinese market.”