Marelli was born in 2019 from the Japanese heating, air conditioning and exhaust supplier Calsonic Kansei and Magneti Marelli, the former auto components business of Fiat Chrysler Automobiles. Now, it needs a partner to develop products for electrification, Prenn said, and Punch fills gaps in Marelli’s portfolio.
“This is really an important milestone for us because this complements and closes the gap we have had in terms of being a complete, fully integrated e-axle systems supplier,” Prenn said.
“Our vision is not only supplying an e-drive system, but it’s really about managing, controlling and optimizing the complete flow of energy within an electric car, and that’s what we can do now with this JV.”
Marelli, which posted $14.94 billion in sales to automakers globally in its 2019 fiscal year, made leadership appointments this year with the goal of bolstering its role in electrification, advanced driver-assistance systems and electronics businesses. The Punch deal will be one of the company’s most fruitful moves, Prenn said.
“We need to see what else can fit into this JV,” he said. “The journey is not finished here. We are already looking at some additional new things, potential acquisitions, partnerships, alliances.
“There’s more to come. You need to have a certain scale and size in this business to survive, and that’s absolutely what we’re going to do.”
