Israel Corporation (TASE: ILCO) is not giving up on the electric car market, even as it continues to lick its wounds from the liquidation Better Place Inc. Qoros Auto Company Ltd., Israel Corp's Chinese joint venture with Chery Automobile Co. Ltd., has signed a contract with American Axle Manufacturing Inc. (AAM), which will supply its hybrid and electric driveline systems to the carmaker.
Qoros will reportedly install AAM's systems on the 2015 model of the Qoros 3 sedan, which will be manufactured in China for both the Chinese and European automotive markets.
The e-AAM hybrid and electric driveline systems consist of an electric drive unit, power box unit with an electric drive control module and a proprietary control strategy, and software for traction and hybrid controls functionality. Its features include better fuel efficiency, reduced carbon dioxide emissions, and improved safety, ride and handling performance.
"We are extremely pleased to initiate a partnership with Qoros," said AAM president and CEO David Dauch. "Our investment in driveline systems for hybrid and electric vehicles has allowed us to develop an innovative patent-protected product portfolio, enabling AAM to play a leading role in this important new driveline product segment."
Published by Globes [online], Israel business news - www.globes-online.com - on July 17, 2013
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