IAI Expands Power Module Supply to China's Largest Electric Vehicle Company
[Asia Economy Reporter Jang Hyowon] IA, a specialized company in automotive semiconductors and modules, announced on the 11th that its joint venture IA Power Electronics Co., Ltd., established with the Yancheng city government in China, is expanding the supply of power modules for electric vehicles to the largest electric vehicle company in China.
The power modules supplied by IA Power Electronics Co., Ltd. are power modules for the EWP (Electric Water Pump) system. Six individual power devices are integrated into one power module, simplifying the system assembly process, reducing the module size, and providing excellent heat dissipation characteristics.
The power modules for the EWP system are currently supplied to two electric vehicle models of the number one electric vehicle company in China, and the number of applicable models is expected to increase to five. In particular, due to strong sales of these electric vehicle models, the delivery volume requested has significantly increased beyond initial expectations, and with the increase in applicable models, the supply volume is expected to continue expanding.
An IA official stated, “IA Power Electronics Co., Ltd. has passed the strict reliability and quality standards of the number one electric vehicle company in China and also has price competitiveness. After successfully developing a new power module product at the end of last year and starting full-scale mass production supply targeting Chinese electric vehicle companies, we expect to achieve significant results in the Chinese electric vehicle market starting this year.”
Meanwhile, IA Power Electronics Co., Ltd. is a joint venture established in July 2019 by IA and the Yancheng city government to develop and produce power modules and power controllers. IA holds a 57.2% stake.
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IA provides related technical services to IA Power Electronics Co., Ltd. and agreed to receive a total of $21 million in technical development service fees over three years until 2021. Last year, it received the second-year technical fee of $6.3 million (approximately 6.9 billion KRW), and so far, it has received a total of $16.8 million (approximately 18.5 billion KRW) for the first and second years’ technical fees.
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