U.S. markets close in 56 minutes
  • S&P 500

    4,225.08
    +1.38 (+0.03%)
     
  • Dow 30

    33,833.56
    -200.11 (-0.59%)
     
  • Nasdaq

    14,175.87
    +136.19 (+0.97%)
     
  • Russell 2000

    2,283.36
    -31.33 (-1.35%)
     
  • Crude Oil

    71.15
    -1.00 (-1.39%)
     
  • Gold

    1,779.20
    -82.20 (-4.42%)
     
  • Silver

    26.01
    -1.80 (-6.46%)
     
  • EUR/USD

    1.1918
    -0.0083 (-0.69%)
     
  • 10-Yr Bond

    1.5090
    -0.0600 (-3.82%)
     
  • GBP/USD

    1.3928
    -0.0058 (-0.42%)
     
  • USD/JPY

    110.2510
    -0.3620 (-0.33%)
     
  • BTC-USD

    37,752.75
    -1,018.61 (-2.63%)
     
  • CMC Crypto 200

    935.88
    -34.00 (-3.51%)
     
  • FTSE 100

    7,153.43
    -31.52 (-0.44%)
     
  • Nikkei 225

    29,018.33
    -272.68 (-0.93%)
     

Marelli and PUNCH Motive International join forces to develop and manufacture electric vehicle e-axles

·3 min read

- Creation of new joint venture between leading global automotive supplier, Marelli, and leading supplier for the development, integration and manufacturing of driveline and powertrain solutions, PUNCH (via PUNCH Motive International)

- The joint venture accelerates Marelli's shift toward electrification through the development and assembly of integrated e-axles for electric vehicles

- The partnership advances PUNCH's long-term e-mobility strategy toward clean hydrogen energy

STRASBOURG, France, May 11, 2021 /PRNewswire/ -- Marelli, a leading global automotive supplier, and PUNCH, a supplier for the development, integration and manufacturing of driveline and powertrain solutions, have reached an agreement to form a joint venture focused on e-axle solutions. Both companies combine their extensive expertise in the area of electric powertrains to offer integrated systems for electric vehicles.

Marelli and PUNCH form a joint venture focused on e-axle solutions: agreement signing ceremony - Hannes Prenn, Executive Vice President and CEO of Marelli’s Electric Powertrain business, and Guido Dumarey, founder and CEO PUNCH (PRNewsfoto/Marelli)
Marelli and PUNCH form a joint venture focused on e-axle solutions: agreement signing ceremony - Hannes Prenn, Executive Vice President and CEO of Marelli’s Electric Powertrain business, and Guido Dumarey, founder and CEO PUNCH (PRNewsfoto/Marelli)

The joint venture – which is to be majority owned by Marelli – will be focused on a system approach for optimized integrated e-axle solutions. The company will develop and assemble e-axle systems and be targeted specifically toward the markets in Europe and the Americas.

The new enterprise, Marelli Electric Powertrain Strasbourg (France) SAS, will be headquartered at PUNCH's site in Strasbourg, France, in proximity to major European vehicle makers. The joint venture will have a facility for production, prototyping and testing on-site.

E-axles are a key system of electric vehicles. While Marelli will supply electric motors and inverters including software for the e-axles, PUNCH will contribute gearbox components and development as well as manufacturing expertise.

"PUNCH's and Marelli's strengths in the field of electric powertrains are a great match. The joint venture is an important milestone in Marelli's e-mobility growth strategy," said Hannes Prenn, Executive Vice President and CEO of Marelli's Electric Powertrain business. "With this cooperation, we further expand our unique offering as a full system provider for electric powertrains which is complemented by our thermal and battery management solutions."

"PUNCH wants to be a major player for reducers as part of complete e-axles, representing one of the key components for electric mobility. The partnership with Marelli is an enabler for us to accelerate and execute our long-term strategy from fossil to electric and ultimately clean hydrogen powertrain systems," said Guido Dumarey, founder and CEO PUNCH.

About Marelli

MARELLI is one of the world's leading global independent suppliers to the automotive sector. With a strong and established track record in innovation and manufacturing excellence, our mission is to transform the future of mobility through working with customers and partners to create a safer, greener and better-connected world. With around 58,000 employees worldwide, the MARELLI footprint includes 170 facilities and R&D centers across Asia, the Americas, Europe, and Africa, generating revenues of 1,266 Billion JPY (10.4 Billion EUR) in 2020.

marelli.com

About PUNCH

PUNCH is an independent supplier for the development, integration and manufacturing of competitive driveline and powertrain solutions, ranging from transmissions (PUNCH Powerglide), engines (PUNCH Torino), kinetic energy recuperation and storage systems (PUNCH Flybrid) to forged aluminum chassis parts (PUNCH Precision). The Group employs 1,750 employees at 7 locations across Europe and Asia with an annual turnover exceeding half a billion Euros.

punch-group.com

Photo - https://mma.prnewswire.com/media/1507749/MARELLI_and_PUNCH.jpg

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/marelli-and-punch-motive-international-join-forces-to-develop-and-manufacture-electric-vehicle-e-axles-301288631.html

SOURCE Marelli