Magneti Marelli, ST sign auto power development deal
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Magneti Marelli and STMicroelectronics say they have signed a memorandum of understanding with the goal of developing and producing inverters for hybrid and electric engines in mass produced vehicles.
The agreement is intended to broaden the existing Formula 1 collaboration between the two companies to encompass mass produced vehicles. In particular, the two companies are looking to build upon the Kinetic Energy Recovery System (KERS) used in Formula 1 racing.
Eugenio Razelli, pictured, Magneti Marelli's ceo, said: "In the perspective of building a strong position as supplier of strategic components and systems for hybrid and electric engines, this memorandum of understanding with STMicroelectronics paves the way toward a second crucial piece of our offer, after our recent agreement with FAAM concerning lithium traction batteries. We are very well acquainted with the industrial and research excellence offered by STMicroelectronics, as we have already joined our efforts during the F1 work on the KERS."
For ST's part, Carmelo Papa, executive vice president, added: "STMicrolectronics is especially pleased with this preliminary cooperation agreement. STMicroelectronics is certain that its leadership in power electronics for industrial and automotive systems will turn out to be useful to Magneti Marelli in extending its own leadership to the sector of hybrid and electric engines."
