Huayu Magna will exclusively supply auxiliary drive systems for Volkswagen's electric vehicles in China, Europe and the United States.
Huayu Magna's highly integrated electric drive system is specially designed for electric vehicles. As an auxiliary drive system, it integrates induction motors, integrated single-speed gearboxes, high-voltage inverters, and is equipped with corresponding software and control technology. . The system provides 78kW of peak power to the front wheels.
Opportunities in Europe
With a high probability, Europe will surpass China this year and become the world's largest new energy vehicle market. The European counterattack has spurred a new wave of local three power supply chains.
According to data released by EVsales, global sales of new energy passenger vehicles reached 346,000 in September. Among them, Europe reached 160,000, accounting for 46.3%; China 90,000, accounting for 37.9% of the market. The cumulative sales in the first three quarters were 1.784 million vehicles worldwide. Europe is still much higher than the domestic market, with 770,000 vehicles versus 670,000 vehicles.
Driven by the almost indistinguishable subsidy policy for electric vehicles and plug-in hybrids, the European new energy vehicle market has shown a similar growth trend under strong domestic subsidies.
The offensive in the European new energy vehicle market has given the three power suppliers a bright spot. The protruding market means an opportunity, not only an opportunity to enter the supply chain of European automakers, but also an opportunity to disrupt the auto parts industry and build a new giant.
For example, Huayu Magna and Volkswagen: The sales of ID.3, the first model of Volkswagen's MEB platform, have risen rapidly in Europe, which has brought a good start for the next ID.4 and ID.6. Although ID.3 is a two-wheel drive vehicle, the electric drive system used is provided by other electric drive suppliers, but ID.4 and other ID models provide dual-motor four-wheel drive versions, and they are also global models under the Volkswagen MEB platform. In addition to production in Europe, it will also appear in the Volkswagen MEB plants in the north and south. Huayu Magna will be the auxiliary drive supplier for these four-wheel drive electric vehicles.
Another Nidec company started European production of drive motors as early as 2017. Through the acquisition of Leroy-Somer France (formerly a wholly-owned subsidiary of Emerson), it became a joint venture with PSA Group. The two parties designed and developed a new generation of drive motors in Leroy Somer, and then produced them at the Tremory plant of the PSA Group. The produced drive motors will be integrated into PSA Group's light hybrid, electric and plug-in hybrid models.
However, the joint venture company has not yet exerted the effect of Nidec's flexible and powerful product strategy in the Chinese market. The joint venture partner PSA Group is the second largest car manufacturer in Europe. Nidec has chosen to join hands with it. It is a wise move to open up the European market. However, PSA has so far not shown the strong competitiveness of new energy vehicles. Among the TOP20 global new energy models from January to September, only one Peugeot 208 EV can rank.
Beginning this year, especially after the merger with FCA, PSA Group announced a more aggressive electrification strategy to reduce carbon emissions fines. At the same time, the European new energy vehicle market has shown unprecedented momentum. All this shows: the time has come. It is only a matter of time before Nidec, which respects speed, deploys its European drive motor plants.
Sure enough, Nissan recently announced: Nidec plans to invest about 200 billion yen (about 1.9 billion US dollars) to build a drive motor plant for electric vehicles in Serbia. By 2023, the annual production capacity of the Serbia plant will reach 200,000 to 300,000 vehicles. At present, it has entered the final stage of negotiations with the local government on the construction of the factory and the R&D center.
In addition to Serbia, Nidec plans to start producing drive motors in France and Poland from 2022. Among the three planned factories, the Serbia plant will be one of Nidec's largest production bases in Europe.