AAM and Inovance Automotive Form Technology Development Agreement Focused on Next-Generation Electric-Drive Technology
- AAM, a leading global driveline systems solutions provider, and Inovance Automotive, a China-based supplier specializing in electric propulsion components and systems, recently signed a Technology Development Agreement
- Collaboration will accelerate the development and delivery of scalable, next-generation 3-in-1 electric drive systems for the global market
- AAM and Inovance will continue their launch of current generation 3-in-1 drive units beginning with the first 135 kW model supporting a Chinese OEM in the first quarter of 2021
DETROIT, Jan. 11, 2021 /PRNewswire/ -- American Axle & Manufacturing Holdings, Inc. (AAM) (NYSE: AXL), a leading global automotive supplier of driveline and metal forming technologies, and Suzhou Inovance Automotive Ltd. (Inovance Automotive), a leading provider of automotive power electronics and powertrain systems in China, today announced a technology development agreement that will accelerate the development and delivery of scalable, next-generation 3-in-1 electric drive systems, which integrates an inverter, electric motor and gearbox.
AAM and Inovance Automotive will focus on the advancement of highly integrated 3-in-1 electric drive systems leveraging the partners' complimentary expertise in electric-propulsion technology. The collaboration will seek to enhance the power density, efficiency and cost effectiveness of the electric drive technology offered in the global NEV market.
"The global electric drive market continues to expand as increasingly stringent emissions regulations require innovative propulsion system solutions," said David C. Dauch, AAM Chairman and Chief Executive Officer. "Our cooperation with Inovance Automotive will add an exciting new offering to AAM's fast-growing portfolio of scalable 3-in-1 electric drive systems and accelerate our ability to bring new cost competitive technologies to market. We are excited to join forces with such a highly accomplished and innovative provider of power electronics technology."
Li Juntian, CEO of Inovance Automotive added: "Inovance Automotive is dedicated to providing world-class solutions to the New Energy Vehicle market. We look forward to collaborating with AAM to expand our global product and customer reach while producing innovative integrated electric drive units for the next generation of electric and hybrid vehicles."
AAM and Inovance are launching 3-in-1 electric drive units supporting four customer programs from AAM's Changshu Manufacturing Complex beginning with the first 135 kW model for a Chinese OEM in first quarter of 2021.
The partnership between AAM and Inovance Automotive will strengthen both companies' positions as leading providers of electric-propulsion technology in China and the global automotive markets with next generation integrated electric drive units that offer best-in-class power density and efficiency.
AAM (NYSE: AXL) delivers POWER that moves the world. As a leading global tier 1 automotive supplier, AAM designs, engineers and manufactures driveline and metal forming technologies that are making the next generation of vehicles smarter, lighter, safer and more efficient. Headquartered in Detroit, AAM has approximately 20,000 associates operating at nearly 80 facilities in 17 countries to support our customers on global and regional platforms with a focus on quality, operational excellence and technology leadership. To learn more, visit aam.com.
About AAM's Electric Drive Technology
AAM's all-new Electric Drive Technology is designed, engineered and manufactured to provide global automakers a product portfolio of hybrid and electric driveline systems that range from low-cost, value-oriented offerings to high-performance solutions. Using innovative design features and extensive experience in power density, torque transfer, noise-vibration-harshness reduction, heat management and systems integration, AAM developed industry-leading, scalable products suitable for every vehicle segment.
ABOUT SUZHOU INOVANCE AUTOMOTIVE CO., LTD.
Suzhou Inovance Automotive Co., Ltd is a subsidiary of Inovance Group, a leading global provider of industrial automation solutions. With a full range of drive and power solutions, 600,000 applications and a high-performance R&D team, Inovance Automotive is China's first ISO26262 certified inverter manufacturer and is dedicated to provide world class ePowertrain components and systems for both electric and hybrid solutions.
This press release may contain "forward-looking" statements that are subject to risks and uncertainties described in our most recent filings on Form 10-K and Form 10-Q with the Securities and Exchange Commission, and actual results may differ materially.
For more information:
Investor Contact David Lim Head of Investor Relations (313) 758-2006 [email protected]
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