Renesas and Nevs target China’s New Energy Vehicle Industry
Renesas Electronics Corporation and National Electric Vehicle Sweden (Nevs) today announced the signing of a strategic partnership agreement. Utilizing Nevs' Phoenix architecture technology for electric vehicles and Renesas' technologies for new energy vehicles, the companies will join forces on the development of various system solutions targeting China's new energy vehicle market. In accordance with this newly established partnership, Renesas and Nevs will officially launch the research and development (R&D) of electric vehicles and at the same time will embark on a joint project to develop business strategies for new energy vehicle market in China.
The signing ceremony was held on October 21, 2015 in Beijing, with Nevs, Chairman, Kai Johan Jiang, Vice Chairman, Stefan Tilk, Board Member, Wang Weihang, as well as Shinichi Yoshioka, Vice President, Deputy General Manager of 1st Solution Business Unit at Renesas Electronics Corporation in attendance.
The focus of this partnership is to build advanced automotive electronics technologies. The companies will engage in the development of high-end automotive control systems for new energy vehicles. This includes R&D of motor drive systems, automotive information systems, ADAS (Advanced Driving Assistance System), and safety control systems, and will also extend to the development of such new automotive applications as cloud-connected systems.
By collaborating from the two ends of the automotive industry chain, Renesas and Nevs aim to lead the development of safe, secure, comfortable and eco-friendly intelligent automobiles for the new energy vehicle industry.
Earlier this year, Nevs opened production and Research & Development joint ventures in Tianjin Binhai Hi-tech zone. Nevs Tianjin factory will be focused on new energy vehicles with an annual capacity of 200 000 units. Nevs will have two global production units with TrollhÃ¤ttan factory to support the Tianjin factory with manufacturing planning, workers training and product supply in the initial stage.
Nevs also recently announced two new strategic shareholders of Nevs from China with the city of Tianjin and State Research Information Technology, SRIT. Now two Chinese joint ventures are registered, for Production and R&D. Besides Nevs the parties are SRIT and the It-company Teamsun, which investments initially will be 1 bn RMB respectively 200 MRMB. The three parties will combine their industrial and software engineering competence to co-develop future car connectivity systems. At the same time the Bank of China in an agreement with Nevs granted a credit of 10 bn RMB, to support the development of Nevsâ€™ business in China.
Nevs research and development will be managed from its headquarters in TrollhÃ¤ttan.There will be a close collaboration between the R&Ds in China and in Sweden to generate future vehicle technology and to develop tailor-made vehicle models for the Chinese consumers.
Based on the engineering expertise and experience in Sweden, the R&D in Tianjin is also designed to provide excellent engineering service to other Chinese brands that will create industrial synergies with Nevsâ€™ own products. â€œThe JV establishments will be a strong complementary to our existing resources in Sweden, and is an important first step for Nevs to pave the foundation for further development in China,â€ said Mattias Bergman, President Nevs.