VMAX

What VMAX does

VMAX (深圳威迈斯新能源（集团）股份有限公司) is a Chinese power electronics company that designs and manufactures components for electric vehicles. Founded in 2005 in Shenzhen and listed on the Shanghai Stock Exchange STAR Market (688612.SH) in July 2023, the company operates as a Tier 1/Tier 2 supplier selling directly to global automotive OEMs. Its customer base spans Chinese EV and traditional automakers (Chery, SAIC, BYD, NIO, Li Auto, XPeng, Geely, Changan, FAW, GAC, Dongfeng, Leapmotor) as well as international brands (Stellantis, Ferrari, Aston Martin, Volvo, Renault, Nissan) and Tier 1 integrators (Schaeffler, SAIC Transmission). VMAX was ranked #1 in Chinese passenger EV on-board charger (OBC) sales volume by NE Data for both 2020 and 2021.

VMAX's technology portfolio centers on SiC-based power semiconductors, patented 3D water-channel cooling architectures, and integrated multi-function power systems. Core product lines include single-unit OBCs (6.6kW), 2-in-1 and 3-in-1 on-board power systems (OBC + DC-DC + PDU), high-voltage motor controllers (up to 800V SiC with ≥98.5% efficiency), multi-in-1 electric drive assemblies integrating motor control, DC-DC, OBC, VCU, and BMS with AUTOSAR-based software and ASIL D functional safety, and wireless EV charging systems with FOD/LOP safety. VMAX holds 850+ patents and software copyrights as of 2025, employs 750+ R&D engineers, and reported ¥416M+ in R&D investment for 2025.

VMAX generates revenue through B2B hardware sales under long-term supply contracts with automotive OEMs. Products are sold exclusively via direct enterprise sales with no retail or consumer channel, with pricing negotiated contract-by-contract. The company maintains manufacturing operations in Shenzhen (Longgang) and Wuhu (Anhui Province), R&D centers in Shenzhen, Shanghai (Minhang, under construction since June 2020), and Dalian, and serves customers globally with concentrated presence in China and a small European footprint (8 employees). VMAX has obtained IATF 16949, ISO/SAE 21434 (automotive cybersecurity), and ASPICE CL3 (software process) certifications, supporting its Tier 1 supplier status with global automotive customers.

Name

VMAX

Legal name

深圳威迈斯新能源（集团）股份有限公司

Website

https://vmaxpower.com.cn

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Automotive EV Power Electronics

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632), Electrical Equipment Manufacturing (33531), Motor Vehicle Transmission and Power Train Parts Manufacturing (33635), Other Electrical Equipment and Component Manufacturing (3359), Motor and Generator Manufacturing (335312)

SIC

Electronic Components & Accessories (3670), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Motors & Generators (3621), Electronic Coils, Transformers & Other Inductors (3677), Miscellaneous Electrical Machinery, Equipment & Supplies (3690)

akta.pro primary industry

Power Electronics Manufacturing (Inverters/DC-DC/Onboard Chargers) (IMACACAD)

akta.pro secondary industries

Automotive Charging Hardware Manufacturing (On-board Chargers, Charge Inlets, DC-DC) (IMACAJAK), EV Charging Hardware Manufacturing (AC/DC Chargers/Dispensers) (IMACACAE), EV/Industrial Charging Power Electronics (Chargers, rectifiers, power stages) (IMAGADAF), Charging Infrastructure Components (connectors, cables, dispensers, payment/controls) (IMAGAHAH), EV Power Electronics & Drivetrain Electrification Service (Inverters, DC-DC, eAxles) (TLAKAMAI)

Keywords

• EV power electronics
• On-board chargers
• DC-DC converters
• Motor controllers
• Wireless EV charging

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. EV Power Electronics Components and Systems: VMAX designs and manufactures power electronics products for electric vehicles — including on-board chargers (OBC), DC-DC converters, motor controllers, integrated multi-in-1 systems, and wireless charging — which are sold directly to automotive OEMs and tier-1 suppliers as components embedded in vehicles. Revenue is generated through long-term supply contracts with recurring OEM programs.
2. 液冷充电桩模块 (Liquid-Cooled Charging Pile Modules): VMAX sells 40kW liquid-cooled charging pile modules (WLC series) for EV charging infrastructure applications, complementing its in-vehicle product portfolio.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

VMAX designs, manufactures and sells power electronics and electric drive products for electric vehicles, including on-board chargers (OBC), DC-DC converters, motor controllers, integrated multi-in-1 power and drive assemblies, and wireless charging systems. These components are sold directly to global automotive OEMs and Tier 1 suppliers as embedded vehicle equipment under long-term supply contracts, complemented by 40kW liquid-cooled charging pile modules for EV charging infrastructure.

Product overview

VMAX (威迈斯) provides a comprehensive portfolio of electric vehicle power electronics and drivetrain solutions. The core product lines include: (1) On-board charging systems comprising single-unit OBCs (6.6kW), integrated 2-in-1 and 3-in-1 charging units combining OBC with DC/DC converters, available in 400V and 800V variants from 2.2kW to 22kW; (2) Electric drive systems including motor controllers (single, dual, and high-voltage 800V SiC variants), 3-in-1 and multi-in-1 drive assemblies; (3) Wireless charging systems with FOD/LOP safety features supporting up to 11kW; (4) Supporting products including EV communication controllers (EVCC) for CCS/GB-T protocol conversion, PTC heater controllers, and 40kW liquid-cooled charging modules. All products leverage proprietary power electronics technology with SiC semiconductors for high efficiency (94-98.5%) and support functional safety up to ASIL D.

Differentiator

Problem solved

Functional benefit

Products and services

• VMAX 3-in-1 On-Board Power System (VMAX三合一车载电源系统)

Quantifiable outcome

• OBC market share TOP1 in China by passenger EV sales volume (2020, 2021)
• +2 more outcomes

Named customers19 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core, major and minor.

• Infineon (英飞凌)coreTechnology or Integration · 19 March 2021VMAX uses Infineon's CoolSiC hybrid discrete devices (650V CoolSiC combining 50A TRENCHSTOP 5 fast-switching IGBT with CoolSiC Schottky diode) in its next-generation OBC/DC-DC systems. This partnership enables VMAX to achieve 95-97% system efficiency, reduce development time, improve EMC performance, and shorten time-to-market for advanced automotive power electronics.
• SAIC Transmission (上汽变速器有限公司)coreStrategic or Co-development Partner · 28 October 2020Deep strategic cooperation agreement signed October 2020 covering joint development of power e-drive seven-in-one systems, hybrid powertrains, e-axle three-in-one systems, transmissions, motor controllers, OBC, and DC-DC. The partnership leverages SAIC Transmission's manufacturing and supply chain advantages with VMAX's power electronics R&D and industrialization capabilities. Both parties share technology development, manufacturing分工, and channel resources.
• SAIC Group (上汽集团)majorStrategic or Co-development Partner · 13 August 2020SAIC's EV technology center (捷能公司) and SAIC-GM-Pan Asia Technical Automotive Technology Center (泛亚技术中心) participated in the groundbreaking ceremony for VMAX's Shanghai R&D center, indicating ongoing strategic collaboration on EV power systems development.
• Leading Chinese Universities (华中科技大学, 南京航空航天大学)minorStrategic or Co-development PartnerVMAX has established scholarship programs with Huazhong University of Science and Technology and Nanjing University of Aeronautics and Astronautics since 2015 and 2017 respectively, supporting talent development and academic collaboration in power electronics and electrical engineering.

Scale indicators7 records

Recent moves11 records

Expansion highlights5 records

Others

• BYD: Vertically-integrated Chinese EV OEM that designs and manufactures its own OBC, DC-DC, and motor controllers in-house. Represents both a customer and the dominant competitive threat to VMAX's merchant power-electronics model.
• Tesla: Vertically-integrated EV OEM that designs and manufactures all power electronics in-house, eliminating the need for merchant Tier-1 OBC suppliers. Represents the strategic 'vertical integration' threat to VMAX's addressable market.

Broad incumbents

• Denso: Japan's largest Tier-1 automotive supplier producing EV power-electronics including OBC and power control units. Comparable to VMAX on automotive-grade power-electronics manufacturing scale and quality systems, though much larger and more diversified.
• Hyundai Mobis: Korea's largest Tier-1 automotive supplier with significant EV power-electronics content including OBC, DC-DC, and integrated power modules. Comparable to VMAX on power-electronics portfolio serving major EV OEMs.
• ZF Friedrichshafen: Global Tier-1 supplier of EV drivetrain and power electronics including integrated e-drive systems. Comparable to VMAX on electric drive and power-conversion technology, with broader automotive systems scope.
• Aptiv: Global automotive electronics supplier with high-voltage power distribution, DC-DC, and OBC content for EVs. Comparable to VMAX on automotive power-electronics portfolio and software/cybersecurity capabilities (ASPICE, ISO 21434).
• BorgWarner: US-listed global Tier-1 with a broad EV power-electronics portfolio including on-board chargers, DC-DC converters, and integrated drive modules. Comparable on EV power-electronics content and global OEM penetration, though spanning many other drivetrain product lines.
• Valeo: French Tier-1 with EV power-electronics and thermal-management products including on-board chargers and DC-DC converters. Comparable to VMAX on EV power-electronics content for European OEMs (Stellantis, Renault) which both companies supply.

Direct peers

• Shinry Technologies: Shenzhen-headquartered Shinry is China's most direct competitor to VMAX in on-board chargers (OBC) and DC-DC converters for EVs, serving many of the same Chinese OEM customers. Highly comparable on product portfolio, customer base, and technology roadmap.
• Vitesco Technologies: German Tier-1 supplier of 800V OBC, DC-DC converters, and integrated power electronics, now part of Schaeffler. Directly comparable to VMAX on EV power-electronics portfolio and global OEM customer base (Stellantis, BMW, etc.).

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VMAX