The Beijing IAT Yazaki New Energy Technology joint venture, a collaborative effort backed by IAT Automobile Technology and Yazaki (China) Investment, was officially inaugurated on Tuesday in the economic and technological hub of Beijing E-Town, known for its rapid development in advanced industries and housing numerous innovative companies.
The two industry powerhouses aim to work intensively on high-voltage systems, which are considered the “heart” of new energy vehicles, striving to fortify the foundation of the burgeoning new energy vehicle sector in Beijing E-Town and enhance the robustness and efficiency of its industrial chain.
With the creation of this new joint venture, Beijing E-Town has successfully attracted a staggering 160 projects from 105 Fortune Global 500 companies, underscoring its growing allure as a prime destination for global investment in the automotive industry.
Xuan highlighted that IAT is not just any automotive company, but the first independent automobile design firm to be publicly listed on China’s A-share market, renowned for its excellence in designing and developing new energy vehicles as well as providing innovative system solutions.
Yazaki, a titan in the automotive parts manufacturing sector and a long-standing entry in the Fortune Global 500 list, brings unparalleled expertise to this collaboration. “This partnership will undoubtedly be mutually advantageous, enhancing both companies’ positions while strengthening the competitiveness of the regional industry,” Xuan remarked.
Yazaki’s wiring harness products command an impressive 30 percent of the global market share, thanks to its cutting-edge design and development technologies, extensive manufacturing capabilities, and well-established international sales network, positioning it as a leader in automotive wiring solutions.
The joint venture has laid out an ambitious plan for the next two years, focusing on research and development in crucial areas such as charging technology, power batteries, and drive and distribution systems. Through collaborative efforts, the venture anticipates achieving significant technological advancements, developing a range of serialized product prototypes, and moving towards mass production.
“Our future endeavors will align closely with market trends as we aim to explore and innovate core technologies for high-voltage systems,” said Yao Lin, vice-general manager of the joint venture. “In the initial phase, we will prioritize developing advanced products such as high-voltage charging units, power distribution systems, and efficient power supply solutions.”
The high-end and new energy automobile sector stands as one of the four pivotal industries driving growth within Beijing E-Town, further establishing the area as a key player in the transition to sustainable automotive technologies.
Recent government data indicates that the output value of the automobile industry in Beijing E-Town surpassed an impressive 200 billion yuan (approximately $28 billion) within the first three quarters of this year, setting the stage for a new record as the year concludes.
To foster the continued growth of the automotive sector, Beijing E-Town has allocated an expansive industrial space of 2.7 million square meters, designed to cater to the diverse needs of enterprises at various stages of development within the region.
**Interview with Mr. Xuan, CEO of IAT Automobile Technology**
**Interviewer:** Thank you for joining us today, Mr. Xuan. Congratulations on the official inauguration of the Beijing IAT Yazaki New Energy Technology joint venture. Can you share with us the vision behind this collaboration?
**Mr. Xuan:** Thank you for having me. Our vision for this joint venture is to harness the strengths of both IAT Automobile Technology and Yazaki to advance high-voltage systems, which we consider the heart of new energy vehicles. By doing so, we aim to enhance the efficiency and robustness of the industrial chain here in Beijing E-Town, which has rapidly emerged as a hub for advanced industries.
**Interviewer:** That’s exciting to hear. What do you believe makes Beijing E-Town an attractive location for this new venture?
**Mr. Xuan:** Beijing E-Town has positioned itself as a prime destination for global investment in the automotive industry. The region has attracted 160 projects from 105 Fortune Global 500 companies, which speaks volumes about its potential. The infrastructure, the talent pool, and the support from the local government create an ideal environment for innovation and growth.
**Interviewer:** How does IAT’s experience as the first independent automobile design firm listed on China’s A-share market contribute to the joint venture?
**Mr. Xuan:** Our experience in designing and developing new energy vehicles uniquely qualifies us to lead innovative solutions in this sector. Our deep expertise in understanding market demands and technological advancements allows us to create systems that push the envelope in terms of performance and sustainability.
**Interviewer:** Yazaki brings a wealth of experience in automotive parts manufacturing. How important is their expertise for the joint venture’s success?
**Mr. Xuan:** Yazaki’s extensive market share and technological capabilities are invaluable assets. Their leadership in wiring harness products—holding 30 percent of the global market—illustrates their expertise. This partnership will leverage both our strengths, enabling us to be highly competitive and responsive to the growing demands of the new energy vehicle market.
**Interviewer:** What are your hopes for the impact of this joint venture on the regional automotive industry?
**Mr. Xuan:** We hope this collaboration will set a precedent within the industry, demonstrating how strategic partnerships can drive innovation and competitiveness. Our goal is to not only enhance our companies but to also fortify the local industry, helping it thrive in the burgeoning new energy vehicle sector.
**Interviewer:** Thank you, Mr. Xuan, for your insights. We look forward to seeing how this joint venture unfolds and its contributions to the automotive industry.
**Mr. Xuan:** Thank you for your interest. We’re excited about the journey ahead!
