Pan-International Industrial Corp, a member of the Foxconn Group, along with Foxconn and incoming management co-investors, will invest €35.5 million in Belgian motor company Magnax. Pan-International will become Magnax’s largest shareholder following FDI approval and transaction completion.

Magnax develops yokeless axial flux motors—a topology where magnetic flux runs parallel to the rotation shaft rather than radially outward, enabling a shorter, flatter form factor with higher torque and power density than equivalent radial flux machines. Removing the iron stator yoke further cuts weight and reduces core losses. Founded in 2015 and previously backed by €29 million across two earlier rounds, the company has 30 engineers in Belgium and operates Traxial, a subsidiary focused on e-mobility. Target markets include electric vehicles, industrial drives, robotics, machine automation and aerospace.

MORE: A closer look at axial flux motors

The new capital funds industrialization and high-volume production. Magnax’s headquarters and R&D stay in Belgium; volume manufacturing will be built in China using the Foxconn Group’s supply chain infrastructure and customer access. A new CEO from China with extensive international industrial experience will lead the commercial scaling phase.

“Axial flux motors have a fundamentally better value proposition in several high-performance use cases,” said Peter Leijnen, cofounder of Magnax. “Their high torque density and efficiency enable customers to reduce weight and size of their end products. Lower material usage and higher efficiency translate directly into lower system cost and reduced carbon emissions.”

“With Foxconn’s manufacturing scale and industrial ecosystem, Magnax gains the operational foundation required to deploy axial flux motor technology across global markets,” said Daan Moreels, cofounder of Magnax.

Source: Magnax