Zhejiang Founder Motor
Assembly Line
China’s Founder Motor Soars After Securing Volkswagen Orders
Founder Motor’s stock price jumped after two of Volkswagen Group’s businesses in China placed long-term component supply orders with the maker of drive motors.
Founder will supply over 1.6 million stator and rotor assembly sets for drive motors used in electric cars to Volkswagen’s parts factory in Tianjin and SAIC Volkswagen Automotive, the German automaker’s joint venture with China’s SAIC Motor, the Zhejiang province-based company announced.
The core components, which will be used in Volkswagen’s new-generation all-electric vehicles, will start being delivered as soon as the first quarter of next year, Founder added, without revealing any further details.