Punch Powertrain and XPT have signed a joint venture agreement that will establish a new manufacturing plant in Nanjing and will yearly supply hundreds of thousands of electric powertrains to customers of both partners.
The joint venture is established for the purpose of producing electric transmissions for pure EV applications. 10 million euro (Rs 80 crore) will be invested in a new production facility in Nanjing, where powertrains of both partners will be industrialized. Design and development of current and future products will remain within the parent companies, for which, both of them are capable of.
The cooperation will begin with one single speed electric transmission by Punch Powertrain and one by XPT that will be brought into production by the beginning of 2019.
XPT is a global startup, based in China, focused on e-propulsion platforms, including electric drive systems and energy storage systems. XPT operates under the car manufacturer NIO, supplying primarily to NIO and also to other OEMs. XPT claims to have full design and development capabilities for electric propulsion systems. Punch Powertrain is an independent supplier of powertrains with over 45 years of experience in development and industrialization. The company had started with CVTs and in recent years expanded its portfolio with DCTs, Hybrid and Electric Powertrains.
An electrified transmission system from Punch Powertrain
This JV enables Punch Powertrain and XPT to accelerate its electrification rate and to increase the rate of production of electric powertrains.
Accelerating towards electrification
According to Punch Powertrain’s business intelligence, the move towards new energy vehicles will happen a lot faster than generally assumed by the ICE-minded automotive community. The company is moving towards cleaner and electrified drive systems by developing hybrid and fully electric powertrains.
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