Electric Powertrain Market, By Vehicle Type (BEV and HEV/PHEV), By Component (Motor/Generator, Battery, Power Electronics Controller, Convertor, Transmission, and On-Board Charger), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : Jul 2023

Code : CMI5988

Pages :140

Formats :

Excel and PDF

Industry : Automotive and Transportation

Market News

Global Electric Powertrain Market: Key Developments

In July 2021, Mercedes-Benz (a Germany-based luxury and commercial vehicle automotive brand) revealed that it had acquired Yasa (a manufacturer of electric motors and motor controllers for use in automotive and industrial applications), a provider of advanced electric propulsion technology. It offers the automobile sector solutions for electric and hybrid powertrains. Yasa will continue to function as a wholly-owned Mercedes-Benz subsidiary.

In July 2021, an electric powertrain joint venture between LG electronics (Multinational conglomerate corporation) and Magna International (Canadian parts manufacturer for automakers) was formulated to serve the EV industry. Both firms have formally signed the transaction agreement. The new business will be situated in Incheon, South Korea, and will go by the name LG Magna e-powertrain. It will initially employ 1,000 people.

In August 2021, BorgWarner Inc. (a U.S.-based automotive supplier) announced a Series C equity investment in CelLink Corporation, a provider of high-conductance flexible circuits for the automotive industry. The investment would allow the company to expand its electrification strategy.