Magnax
Magnax is a Belgian deep-tech company developing patented yokeless axial flux electric motors with 3-4x higher power density than conventional designs. It serves automotive OEMs, aerospace propulsion developers, and industrial automation customers via its Traxial and Axyal subsidiaries.
- Company typePrivate
- Founded2015
- HeadquartersKortrijk, Belgium
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Magnax does
Magnax is a Belgian deep-tech company founded in 2015 that develops yokeless axial flux electric motor technology, an alternative to conventional radial flux motors delivering 3-4x higher power density and up to 20% more vehicle range. The company's patented single-stator, dual-rotor topology incorporates direct oil cooling, an injection-moulded clamshell stator design with 30% fewer parts than first-generation, individual stator cores with flat copper wire windings achieving 50% more efficient copper use, and high-speed rotors with robust bearing air-gap tolerance. Magnax dual-motor Electric Drive Units are specified at up to 600 kW peak power and 3,800 Nm peak torque per wheel, with axial length approximately one-third of typical radial flux designs.
Magnax commercializes its technology through two wholly-owned subsidiaries: Traxial, focused on ground eMobility applications (automotive, electric vehicles, sports cars, drones), and Axyal, focused on aerospace propulsion systems for electric and hybrid aircraft. The company targets automotive OEMs in E, F, and S segments, aerospace propulsion developers, and industrial automation/robotics companies. Revenue is generated through motor hardware sales and technology licensing/commercialization via the subsidiaries, with go-to-market executed via direct enterprise sales and OEM embedding. Manufacturing leverages the Pan-International Industrial Corp. (Foxconn Group) partnership, with high-volume production deployed in China while R&D remains at the Kortrijk, Belgium headquarters.
Cumulative funding raised reached approximately €64.5M across a €16M Series A (December 2020, led by Hirschvogel Ventures), €20M Series B (August 2022, led by BIG Capital with SFPIM participation), and a €35.5M Pan-International/Foxconn-led investment (March 2026) that made Pan-International the largest shareholder. A new CEO from China with international industrial technology conglomerate experience was appointed alongside this transaction. The company holds ISO 9001:2015 certification (Traxial subsidiary) and participates in the HARMONY EU project for rare-earth permanent magnet supply chain resilience. Magnax employs approximately 30 staff and is positioned in the pre-commercial-to-industrial-scale transition phase.
Magnax firmographics
Firmographics- Name
- Magnax
- Legal name
- Magnax BV
- Website
- https://magnax.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Magnax is a Belgian deep-tech company developing patented yokeless axial flux electric motors with 3-4x higher power density than conventional designs. It serves automotive OEMs, aerospace propulsion developers, and industrial automation customers via its Traxial and Axyal subsidiaries.
- Ownership category
- akta.pro rank
Magnax industry classification
Industry- Product category
- Electric Motors & Powertrain Components
- NAICS
- Mechanical Power Transmission Equipment Manufacturing (333613), Speed Changer, Industrial High-Speed Drive, and Gear Manufacturing (333612), Motor Vehicle Transmission and Power Train Parts Manufacturing (33635)
- SIC
- Motors & Generators (3621)
- akta.pro primary industry
- Hybrid Powertrain Integration Manufacturing (ICE-HEV/PHEV modules) (IMACAHAJ)
Keywords
Where Magnax is headquartered
LocationHeadquarters
- HQ city
- Kortrijk
- HQ country
- Belgium
- HQ region
- Europe
Offices2 records
Markets served
Magnax business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Motor Hardware Sales: Magnax generates revenue through direct sales of yokeless axial flux electric motors to automotive OEMs, aerospace manufacturers, and industrial automation companies. The company manufactures through its subsidiary Traxial for eMobility and Axyal for aerospace applications, with high-volume production facilitated by Foxconn partnership.
- Technology Licensing and Commercialization: Magnax valorizes and commercializes its patented yokeless axial flux technology through separate spin-off companies (Traxial and Axyal) that develop optimal axial flux solutions for their respective markets. Revenue is generated as these subsidiaries grow and secure OEM contracts.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Magnax product offering
Product offeringCore offering
Magnax develops and manufactures yokeless axial flux electric motors that deliver 3-4x higher power density than conventional radial flux motors. The technology is commercialized through two wholly-owned subsidiaries: Traxial for ground electric mobility (automotive EVs, robotics, industrial drives) and Axyal for aerospace propulsion. Products include high-torque-density electric motors and Electric Drive Units (EDUs) with dual-motor torque vectoring configurations, with production scaling via Foxconn's manufacturing capabilities in China while R&D remains in Belgium.
Product overview
Magnax is a Belgian deeptech company that develops and commercializes yokeless axial flux electric motor technology through two subsidiary companies: Traxial focuses on axial flux eMotors for ground eMobility (automotive/EV applications), while Axyal develops propulsion systems for aerospace. The core technology portfolio includes yokeless axial flux motors with single-stator dual-rotor topology offering up to 4x power density improvement over radial flux designs, direct oil cooling systems, and high-speed rotor innovations. The company also offers Electric Drive Units (EDU) featuring dual motor configurations with torque vectoring capabilities for high-performance EVs.
Differentiator
Problem solved
Functional benefit
Brands
- Traxial: Subsidiary focused on ground eMobility applications, developing axial flux eMotors for automotive and electric vehicles.
- Axyal
Products and services
- Traxial Yokeless Axial Flux eMotors for Ground eMobility High-performance yokeless axial flux electric motors for automotive and electric vehicle applications, with up to 600 kW peak power and 3,800 Nm peak torque per wheel in dual motor configurations. Designed for electric vehicle OEMs and high-performance passenger vehicles including E, F, and S segment cars. Achieved ISO 9001:2015 certification for quality management.
- Axyal Aerospace Propulsion Systems Next-generation electric propulsion systems for aviation and aerospace based on yokeless axial flux motor technology. Lightweight, high-efficiency motors designed for electric and hybrid aircraft propulsion where weight reduction directly translates to greater vehicle range.
- Electric Drive Unit (EDU) with Dual Motor Configuration Dual motor Electric Drive Units featuring yokeless axial flux motors with torque vectoring capabilities for high-performance electric vehicles. Delivers 600 kW peak power and 3,800 Nm peak torque per wheel with 480 mm axial length and 345 mm housing diameter for dual motor configurations.
Quantifiable outcome
- 3 to 4 times higher power density compared to electric motors in today's EVs (e.g., Tesla Model 3)
- +6 more outcomes
Companies that use Magnax
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Magnax technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Magnax partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- HARMONY Project ConsortiumcoreEU-funded project bringing together over 20 academic and industrial partners coordinated by CEIT in Spain to develop a circular value chain for recycling and reusing NdFeB magnets. Magnax contributes experience in high-performance axial flux electric drives and collaborates with Traxial to develop advanced motors incorporating recycled magnets.
- Ghent UniversityminorHistorical collaboration with Ghent University which researched axial flux technology since 2008. Peter Leijnen built a prototype of a yokeless axial flux machine for a wind turbine customer in 2015 before co-founding Magnax.
Scale indicators9 records
Recent moves8 records
Expansion highlights6 records
Magnax competitors and assessment
Company assessmentDirect peers
- YASA: UK-based axial flux electric motor specialist acquired by Mercedes-Benz in 2021; supplies high-performance axial flux motors for AMG.EA and other EV platforms. Closest direct competitor to Magnax with similar yokeless/segmented axial flux architecture and automotive OEM focus.
- Saietta Group: UK-listed axial flux motor developer focused on light electric mobility (motorcycles, scooters) and marine applications. Directly comparable as an axial flux specialist pursuing OEM commercialization in adjacent transportation segments.
- Equipmake: UK-based developer of axial flux motors and EV powertrains for bus, commercial vehicle, and aerospace applications. Comparable in technology (axial flux) and go-to-market through motorsports and aerospace propulsion, overlapping with Magnax's Axyal subsidiary.
- Whylot (Renault Group subsidiary): French axial flux motor specialist acquired by Renault Group; develops automotive axial flux motors for hybrid and electric applications. Direct competitor with the strategic backing of a major OEM, similar to Magnax's Foxconn alignment.
- EMRAX: Slovenian axial flux motor manufacturer serving aviation, marine, EV conversion, and industrial markets with a broad axial flux product catalog. Comparable as a smaller axial flux specialist serving similar multi-vertical applications including aerospace propulsion.
Emerging players
- Turntide Technologies: US/UK-based electric motor company with switched reluctance and axial flux technology for HVAC, commercial vehicles, and marine. Comparable as a venture-backed motor technology company pursuing sustainable electrification across multiple verticals.
- H3X Technologies: US-based startup developing high-power-density integrated motor drives for electric aviation and aerospace. Comparable as an emerging player in high-performance electric motors for aerospace applications, overlapping with Magnax's Axyal subsidiary focus.
Broad incumbents
- Lucid Motors: US EV manufacturer using axial flux motors in its powertrain architecture. Comparable as a high-volume user/producer of axial flux technology in premium EVs, representing both a potential customer channel and a competitor in demonstrating the technology's commercial viability.
- ZF Friedrichshafen: German Tier-1 automotive supplier with electric motor and eDrive systems business serving global OEMs. Comparable as a major incumbent in automotive powertrain technology that Magnax must displace or partner with to scale.
- BorgWarner: US Tier-1 automotive supplier with significant eMotor and electric drive product lines for global OEMs. Comparable broad incumbent in EV powertrain systems that competes for the same OEM design slots Magnax targets.
Market position
Strengths5 records
Weaknesses2 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Magnax social profiles
Digital presenceMagnax compliance and trust
Trust signalCompliance1 record
Magnax financial estimates
Financial estimateRevenue estimate
Valuation estimate
Magnax leadership team
Management profileNumber of profiles
Profiles4 records
Magnax subsidiaries and ownership
Company hierarchySubsidiaries2 records
Magnax funding detail
Funding detailFunding overview
Funding rounds4 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Magnax M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Magnax
What does Magnax do?
Magnax develops and manufactures yokeless axial flux electric motors that deliver 3-4x higher power density than conventional radial flux motors. The technology is commercialized through two wholly-owned subsidiaries: Traxial for ground electric mobility (automotive EVs, robotics, industrial drives) and Axyal for aerospace propulsion. Products include high-torque-density electric motors and Electric Drive Units (EDUs) with dual-motor torque vectoring configurations, with production scaling via Foxconn's manufacturing capabilities in China while R&D remains in Belgium.
Is Magnax a public or private company?
Magnax is a private company. It is classified as venture growth investor backed and is currently operating.
When was Magnax founded?
Magnax was founded in 2015. It employs 11 to 50 people.
Where is Magnax based?
Magnax is headquartered in Kortrijk, Belgium, in the Europe region.
How does Magnax make money?
Two revenue lines are on record. Motor Hardware Sales are the primary driver. The others are technology Licensing and Commercialization.
Who are Magnax's main competitors?
Direct peers on record are YASA, Saietta Group, Equipmake, Whylot (Renault Group subsidiary) and EMRAX. Emerging players are Turntide Technologies and H3X Technologies. Broad incumbents are Lucid Motors, ZF Friedrichshafen and BorgWarner.
Does Magnax have an API?
No public API is recorded for Magnax.
What industry is Magnax in?
Magnax's product category is Electric Motors & Powertrain Components. Its primary akta.pro industry code is IMACAHAJ, Hybrid Powertrain Integration Manufacturing (ICE-HEV/PHEV modules). Its NAICS code is 333613 and its SIC code is 3621.