By Kate Yuan

(JW Insights) Sep 18 -- Enpower Electric (英搏尔), a Chinese supplier of power system components for electric vehicles, has agreed to set up a joint venture on off-highway electrification products and software in China with German auto parts giant Robert Bosch, Yicai Global reported on September 14.

The venture will develop and make high-voltage electrical devices for new energy off-highway engineering machinery or trucks, device software, and vehicle gearboxes, the company said in a statement.

Enpower Electric was founded in 2005 and is headquartered in Zhuhai of southern China’s Guangdong Province. It focuses on new energy vehicle (NEV) powertrains, power assemblies, and core components of NEV power. It went listed on the Shenzhen Stock Exchange in 2017.

The company has established long-term collaborations with numerous well-known domestic and international auto companies and large component groups including Geely, SAIC-GM-Wuling, Great Wall Motors, Chery, Changan, FAW-Volkswagen, ZF, and Continental Group.

The new company will be set up in Shanghai with a registered capital of RMB100 million ($13.8 million). Enpower Electric will have a 50% stake, while Robert Bosch Internationale Beteiligungen and Bosch China Investment will own the rest.

The plant’s products will use its own brand for marketing in China, Enpower Electric noted, adding that it could use the brand of Bosch Rexroth, a drive and control technologies firm, in the international market if it secured approval and paid corresponding fees to Gerlingen-based Robert Bosch.

Through the business synergy and resources integration of Enpower Electric and Robert Bosch, the new venture will provide Chinese and overseas engineering machinery vendors with technology and cost competitive power assembly products, said the Yicai Global report.