Shenzhen Inovance Technology Co., Ltd.

Company Profile

■URL

https://www.inovance.eu/home

■Address

70 meters southeast of No.3, Guansheng 4th Road, Longhua District, Shenzhen City, Guangdong Province, China

Business Overview

-The company is a privately-owned general electronics manufacturer headquartered in Shenzhen, China.

-The Company was established in 2003 as a manufacturer of small AC motors. Since then, the company has diversified its business and now offers products and services in five divisions: industrial automation, elevator systems, New Energy Vehicles, industrial robotics, and railway vehicle systems.

-The company has approximately 30 Chinese domestic subsidiaries located in cities including Suzhou, Hangzhou, Nanjing, Shanghai, Ningbo, Changchun, and Hong Kong, and approximately 23,000 employees including those in overseas offices in Germany, France, Italy, Spain, Turkey, India, and South Korea.

Electric drive and power systems business for New Energy Vehicles (NEVs)
-The subsidiary Suzhou Inovance Automotive Co., Ltd. (Inovance Automotive), which was established in September 2016, is mainly responsible for the automotive business.

-The Company has plants in Changzhou, R&D centers in Shenzhen and Switzerland, and offices in Norway, France and Germany. Construction of the Japanese division has begun, and an R&D center in the United States and a plant in Eastern Europe are also being planned.

-Major products:

Product category	Main products
Motors, controllers	Motor controllers (ECU), motors, 5-in-1 units, electric drive units (e-Axle)
Power supply components	DC/DC converters, on-board chargers (OBC), power distribution units

-The company's main competitors in the field of New Energy passenger vehicles are Bosch, UAES, Aptiv, and Nidec, and its main competitors in the field of power supply components for New Energy passenger vehicles are Chinese domestic suppliers.

Shareholders

-Listed on the Shenzhen Stock Exchange in June 2018

(Source: 2023 financial report)

Major Shareholders	Shareholding Ratio (%)
Hong Kong Securities Clearing Company Limited	21.56
Shenzhen Huichuan Investment Co., Ltd.	17.41
Others	61.03
Total	100.00

Access the latest exhibition info.
Click for a free trial!

Products

Drive/controllers
-Drive motors
-ECUs
-Inverters
-Reduction gears
-2-in-1 systems

Drive motors
ECU

-3-in-1 systems

Vehicle charger
DC-DC converters
Power distribution units (PDU)

-e-Axle

Drive motors
Inverters
Reduction gears

-5-in-1 systems

Drive motors
Power distribution units (PDU)
ECUs for electric power steering (EPS)
Air conditioner modules (ACM)
DC-DC converters

Power supplies
-DC-DC converters
-On-board chargers
-Power distribution units (PDU)

View latest major parts supplier agreements.
Click for a free trial!

History

Apr. 2003	Founded.
2008	Entry into the passenger car market in China.
2013	Entry into the commercial vehicle market in China.
2016	Concluded a strategic alliance with BRUSA Elektronik AG.
Sep. 2016	Established Suzhou Inovance Automotive Co., Ltd., an automobile business subsidiary.
Jan. 2021	Partnered with American Axle & Manufacturing to develop and supply the e-Axle.
Apr. 2021	Inovance Automotive and FAW New Energy Development Institute establish joint lab for automotive power distributions products
Jun. 2021	Formed a partnership with Chery Automobile for research on power electronics technology, system assembly technology, and smart manufacturing technology for New Energy Vehicles.
Jul. 2021	Inovance Automotive and Beijing CHJ Automotive Co., Ltd. (Li Auto) established an auto parts joint venture company in Changzhou, Changzhou Huixiang New Energy Auto Parts Co., Ltd. Inovance Automotive will hold a 51% share and Li Auto 49%.
Aug. 2021	Changzhou factory construction began.
Sep. 2021	Suzhou Inovance Automotive Co., Ltd., a wholly owned subsidiary, became independent as an operating company for NEV business.
Feb. 2022	Concluded a strategic alliance with SKF.
May 2022	Changzhou Plant completed phase 1 construction and starts operation
Jun. 2022	Formed a partnership with Shaanxi FAST to build a common foundation for the development of electric powertrain system technology.