Punch Powertrains and XPT found joint venture
The Belgian powertrain producer Punch Powertrains and the Chinese EV platform specialist XPT are founding a joint venture. The partners plan to establish a new factory in the Chinese Nanjing.
There they plan to produce electric drive systems for both of the companies clients in the hundreds of thousands yearly. In total, the investment for both partners is estimated to be around 10 million euros. While the duo is banking on synergy for their production plans, the respective research and development departments will stay in their current homes.
XPT mainly produces drive systems for the Chinese vehicle manufacturer Nio, but also has some smaller projects for other clients. The company is hoping to benefit from Punch’s expertise inn the automotive sector to industrialise their transmissions. The Belgian company is hoping to accelerate their electrification program with the JV, as well as increasing their production volume. Punch Powertrain is owned by the Chinese Yinyi Group, and was recently selected by the French PSA to supply electrified transmissions of the next generation.
The first step by PSA is to combine the electrified tje dual clutch transmission Hybrid DT2 from Punch with a 48 volt motor in their future mild hybrids. The Belgians have made a large investment to meet the standards of the project, including the January take-over of performance electronics specialist Apojee.