Shanghai (Gasgoo)- On October 24, 2024, Bosch and Jiangling Motors Corporation Group ("JMCG") signed an agreement in China's Nanchang city, aiming to establish a new joint venture dedicated to the development and sales of electric drive axle systems for light-duty commercial vehicles.
The joint venture, with a planned registered capital of 500 million yuan (63 million euros), will be 60% owned by Bosch and 40% by JMCG. It will focus on the development, application, production, sales, and servicing of electric drive axle systems for light-duty commercial vehicles.
With a shared commitment to advancing the new energy vehicle industry, Bosch and JMCG will combine their respective expertise in cutting-edge technology and local market insights. Bosch will leverage its experience in electric drive systems, providing core technologies including electric drive units, motors, and controllers, while JMCG will contribute its deep understanding of vehicle manufacturing and insights into China’s domestic market. The joint venture aims to drive ongoing innovation and growth in the new energy vehicle sector, creating fresh momentum for the future of mobility.
According to Bosch, around one-third of trucks are expected to be battery-powered by 2035. This shift toward electrification in the mobility sector is seen as a key to reducing carbon emissions and meeting future global energy needs. As a global leader in automotive electrification technology, Bosch provides comprehensive solutions spanning electric drive axles, motors, control systems, and vehicle energy management. Establishing the joint venture with JMCG marks a strategic step for Bosch in expanding its footprint in electrification.
The partnership between Bosch and JMCG dates back 16 years, evolving from a supply relationship to a significant strategic collaboration. “The planned joint venture for electric drive axle systems is a further milestone in deepening the cooperation between JMCG and Bosch,” said Qiu Tiangao, Party Secretary and Chairman of JMCG. Going forward, both companies will enhance their collaboration to produce electrified commercial vehicle solutions that align with the market's rapid growth and evolving needs.
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