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 for pure EV applications to customers of both partners.
The partners will invest €10 million 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. To start the cooperation, one single-speed electric transmission by Punch Powertrain and one by XPT will be brought in production beginning of 2019.
Punch Powertrain’s EP2 packages a high-output switched reluctance motor, single-speed gearbox, power electronics and controls.
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, but also to other OEMs. XPT has full design and development capabilities for electric propulsion systems. In Punch Powertrain it has found an established partner with broad automotive experience for the industrialization of their transmissions.
Punch Powertrain is an independent supplier of powertrains with more than 45 years of experience in development and industrialization. The company has started with CVTs and in recent years expanded its portfolio with DCTs, Hybrid and Electric Powertrains. This JV enables Punch Powertrain to accelerate its electrification rate and to faster scale up its production of electric powertrains.
In the past years Punch Powertrain has successfully been implementing its expansion strategy by expanding its product portfolio and establishing a broader customer base on the global market. According to Punch Powertrain’s business intelligence, the move towards New Energy vehicles will happen faster than generally assumed by the ICE-minded automotive community. The company has been taking steps towards cleaner and electrified drive systems for years; with the mass production of its first electric powertrain, the company sees its strategy materializing.
Earlier this month, Groupe PSA selected Punch Powertrain as the supplier of its next-generation e-DCT electrified transmission systems by 2022. (Earlier post.)