Shanghai (ZXZC)- German automotive supplier Schaeffler and Leadrive, a Shanghai-headquartered power modules and EV solutions provider, on Dec. 16 forged a strategic partnership to co-develop the next-generation electric drive solutions for new energy vehicles (NEVs), according to a post on Schaeffler's WeChat account.

Schaeffler, Leadrive signing agreement; photo credit: Schaeffler

Per the agreement, the two companies will leverage their respective technical strengths in the fields like NEV powertrain, electric motor controllers, and power semiconductor modules to jointly develop the next-generation electric driving solution targeting the demands of world’s leading OEMs and working on pushing the relevant product volume production. Mass production of their first pilot cooperative project is set to commence in 2023.

Meanwhile, Schaffler announced it will join Leadrive's Series B financing.

“Through this strategic cooperation, Leadrive and Schaffler will make full use of expertise in machinery and electronics domains respectively, jointly developing electric drive products with global competitiveness like 800V SiC bridge,” said Dr. Shen Jie, founder and general manager of Leadrive.

Leadrive was established in 2017 as a high-tech company that supplies power modules utilizing advanced semiconductors and power solutions utilizing motor and inverters for NEVs. With more than 10 years of experience in developing SiC power modules and systems using SiC bare chips, and over 100 international patents, the company is capable of offering products and technologies for three fields, namely, new energy, power conversion, and power electronics.

Leadrive has so-far banked money from Legend Capital, CCIG, Shanghai Sci-Tech Innovation Center Capital, Lenovo Capital and Incubator Group, China Merchants Capital, Topping Capital, and other investors. In October 2021, the company claimed it had nabbed 300 million yuan ($47.104 million) in the B2 funding round.