Frankfurt am Main: German computer chip maker Infineon said on Friday it is teaming up with China’s biggest car maker, SAIC Motor Corporation, to produce power modules for the Chinese electric car market, the world’s biggest.
Infineon said in a statement it will hold a 49-per cent stake in the new Shanghai-based company, SAIC Infineon Automotive Power Modules (SIAPM), which will make inverters — vital parts that convert power from the battery to a form that can be used by the car’s engine.
SAIC will hold the other 51 per cent.
The joint venture has already received the necessary regulatory approval and will begin large-scale production in the second half of this year, Infineon said.
SIAPM will focus on the massive Chinese market for electric or hybrid vehicles, which saw 794,000 sales last year according to local auto industry association CAAM. — AFP
Oman Observer is now on the WhatsApp channel. Click here
