Magna is to form two new joint ventures with Beijing Electric Vehicle Co. Ltd (BJEV) for complete vehicle manufacturing as well as engineering of electric vehicles.
BJEV, a subsidiary of the BAIC Group for electric cars, and Magna, a global automotive supplier and the world’s leading brand-independent vehicle contract manufacturer, have signed term sheets for the new joint ventures.
Over the coming months, Magna and BJEV will work with authorities to implement legally binding joint-venture agreements which will govern the operations of these two joint ventures.









