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, 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.