Bosch is taking full control of electric motor manufacturer EM-Motive and is operating the former joint-venture’s two plants in Germany. The change began in January when Bosch moved to acquire the shares in the company held by its 50% partner, Daimler.
“The company’s electric motors already feature in vehicles made by Daimler, Porsche, Fiat, Volvo, Peugeot, and StreetScooter, among others. With this move, Bosch above all intends to acquire new customers in the rapidly growing global market,” said Dr. Mathias Pillin, the member of the Powertrain Solutions executive management responsible for the electric-vehicle market segment. The existing company EM-motive GmbH will be transferred to Robert Bosch GmbH, subject to approval by antitrust authorities.
The EM-motive joint venture was set up to make it economical for the two partners to enter electric-motor manufacturing. Given the initially small batch sizes, the two companies were able to share the high capital cost of developing and manufacturing electric motors. As a result, Bosch and Daimler were able to enter electric-motor production early.
Right from the establishment of the joint venture, Bosch secured an option to acquire the shares. A complete takeover was thus already an option in the joint venture agreement. The change in ownership structure will not have any immediate effect on the roughly 340 EM-motive associates currently working at the locations in Stuttgart and Hildesheim, said Bosch.
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