China's electric car market may grow from 700.000 cars in 2017 to 5 million in only the next three years and BIAC wants a piece of that.
Tesla might be the best known company on Earth, producing electric cars, however (and only by a small margin of a few thousand cars) it is BAIC, Chinese based company, which has been the most productive in the year 2017 – even though their cars are only produced and sold in China. This might soon change though, as the company has announced a partnership to start expanding globally.
In an official statement released today, BAIC has announced, that it has selected a new partner, which will help developing new electric cars. China-based company has afterwards revealed that on 8th of April they have signed an agreement with Austrian company Magna Steyr for joint production of the next generation of electric cars sold (primarily) on Chinese market.
BAIC has also revealed it has chosen Magna due to its "its innovative and cost-effective solutions throughout its complete vehicle manufacturing and engineering services as well as its full-scale electronic/electrical architecture and lightweight technologies." Another company, which can confirm that is British car manufacturer Jaguar, who has chosen Magna as a prime manufacturer of their first mass produced electric SUV, the I-Pace.