Sailauf, Germany – Magna Electronics, a division of Ontario-based auto parts supplier Magna International, has formed a 50/50 joint venture with technology company Semikron to develop and produce power electronics for future electric and hybrid vehicle applications.

“This joint venture with Semikron, a global player across multiple industries, provides us with an experienced and strong partner in the field of power electronics,” said Matthias Arleth, vice-president of Magna Electronics Europe. “In combination with Magna Electronics’ experience as a worldwide automotive supplier, we are well positioned to anticipate the challenges of the market and exceed customer requirements for electric and hybrid vehicle components and systems.”

Semikron, a privately-owned company, was founded in 1951 and employs 3,000 people worldwide through a global network of 35 companies. It produces chips, discretes and power modules, along with integrated power electronic systems.

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