Daimler AG announced that Robert Bosch GmbH have signed an agreement to establish a 50:50 joint venture for electric-motors. The venture, which is still subject to approval by antitrust authorities, is to be set up under the name EM-motive GmbH.
EM-motive GmbH will develop and produce innovative electric-motors for future Mercedes-Benz and Smart vehicles. The joint venture’s engineering site will be located close to the parent companies in the Stuttgart area.
Mercedes-Benz expects some 100 employees to start working for the joint venture later this year.
According to Prof. Dr. Herbert Kohler, Vice President e-drive & Future Mobility in Group Research & Advanced Engineering and Chief Environmental Officer of Daimler AG: “Like lithium-ion batteries, electric motors are key components for our electric vehicles. It is extremely important that competence in this field is maintained in Germany. In joining forces with Bosch, we have now teamed up with a long-standing partner, and are confident that this move will lead to outstanding results.”
While the joint venture will supply Daimler with electric-motors, sales to third party companies will be handled by Bosch. Current plans aim to have the joint venture to produce more than one million electric motors in all by 2020.
– By: Omar Rana