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JV contract manufacturing: a new business model in the post-AIDP era

Magna’s tie-up with Beijing Electric Vehicle Co., Ltd. (BJEV) under BAIC Group on June 18 to create two joint ventures for complete vehicle manufacturing as well as engineering of premium smart EVs (see Magna forms two JVs with BJEV, to jointly engineer and produce premium smart EVs for customers in China) is a significant milestone in the development of the Chinese auto industry and evolution of Sino-foreign joint venturing.

First, it represents the first time that a global supplier has teamed up with a Chinese traditional state-owned automaker to develop and manufacture vehicles, rather than components.

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