Magna skeleton electric car corner ventures with Chinese company

Magna International Inc. says it will form dual new corner ventures with a Chinese association to operative and build electric vehicles.

The Ontario-based automobile tools association and Beijing Electric Vehicle Co. Ltd., a auxiliary of a BAIC Group, are approaching to take over an existent BAIC prolongation trickery where a initial prolongation vehicles are designed for 2020. The plant has a ability to build adult to 180,000 vehicles per year.

Magna says a engineering and prolongation corner ventures will also be set adult to offer engineering and finish car prolongation to other customers.

The skeleton for a corner try follow an agreement in Apr that saw BAIC Group and Magna determine to rise intelligent electric car design for a Chinese market.

It is approaching that this work will be eliminated to a engineering corner try and will form a height of a new electric vehicles to be launched by a corner venture.

Both corner ventures are theme to a series of conditions and Magna says it will work with authorities to exercise legally contracting joint-venture agreements over a entrance months.

Article source: https://www.cbc.ca/news/business/magna-china-electric-vehicle-1.4710670?cmp=rss