BorgWarner announced plans to form a joint venture with Shaanxi Fast Auto Drive Group, a leading supplier of commercial vehicle parts in China known for transmission and drivetrain systems.
Stefan Demmerle, president and general manager at BorgWarner PowerDrive Systems, highlighted the venture’s focus on developing high-voltage inverter applications for vehicles like heavy-duty trucks and off-road vehicles. “This joint venture will support our business growth for power electronics in the electrified commercial vehicle market,” Demmerle said. “Our strong engineering footprint in China enables us to quickly accelerate product development to commercialize highly efficient inverter technology.”
Xuyao Ma, chairman of FAST Group, emphasized the complementary strengths of both companies. “With solid technology, powerful R&D capabilities and integrated supply chain, BorgWarner is a well-known global product leader in inverters for new energy vehicles. FAST group is a China-based market-leading solution provider specializing in CV transmission and drivetrain systems as well as high-end intelligent manufacturing equipment,” Ma said. He added that the joint venture aims to capitalize on the growing new energy sector in the commercial vehicle market in China, offering advanced inverter products and propulsion solutions.
BorgWarner said this collaboration, which merges its expertise in electrification and close customer relationships with Shaanxi Fast Auto Drive Group’s commercial vehicle knowledge and client base, will significantly boost the electrification growth in the commercial vehicle sector.
The establishment of the joint venture is anticipated for the first quarter of 2024, pending regulatory approval.
