The present disclosure provides a power module and a method for manufacturing the power module. The power module includes a chip, a passive element and connection pins. The connection pins are provided on a pin-out surface of the power module, and are electrically connected to at least one of a chip terminal of the chip and the passive element; a projection of the chip on the pin-out surface of the power module does not overlap with a projection of the passive element on the pin-out surface of the power module, and an angle between the terminal-out surface of the chip and the pin-out surface of the power module is greater than 45° and less than 135°.