Bosch and JMC Form New Joint Venture for LCV Electric Drive Systems
October 24, 2024, Nanchang, China – Bosch and Jiangling Motors Corporation Group (JMCG) have officially signed an agreement to establish a joint venture focused on developing and selling electric drive axle systems for light-duty commercial vehicles.
This new venture will have a registered capital of 500 million yuan (approximately 63 million euros), with Bosch holding a 60% stake and JMCG owning 40%. The partnership will focus on creating, applying, manufacturing, and selling electric drive axle systems, while also providing comprehensive services to support their use in the light-duty commercial vehicle market.
Bosch and JMCG are bringing their unique strengths to this joint venture to advance the new energy vehicle industry. Bosch will contribute its electric drive system technology, including electric drive units, motors, and controllers, while JMCG will share its vehicle manufacturing expertise and deep knowledge of the Chinese market. Together, the companies aim to create new innovations in electric vehicle technology, helping to shape the future of mobility.
Bosch predicts that by 2035, one in three trucks will be battery-powered, which will play a major role in reducing carbon emissions and meeting global energy demands. As a global leader in automotive electrification, Bosch offers solutions across electric drive axles, motors, control systems, and vehicle energy management. This joint venture with JMCG is a strategic move for Bosch, expanding its influence in the electric vehicle market.
Bosch and JMCG have been partners for 16 years, progressing from a supplier relationship to a strategic alliance. Qiu Tiangao, Chairman of JMCG, commented, "This joint venture marks a new milestone in our collaboration with Bosch." Both companies are set to work closely together to develop electric vehicle solutions that meet the fast-growing demand in the market.
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