EM-motive is one of the most successful motor manufacturers in Europe
At the beginning of the establishment of the joint venture EM-motive, Bosch had the option to acquire shares. The option of the wholly-owned acquisition was then included in the joint venture agreement. Changes in ownership structure will not immediately affect EM-motive's current 340 employees in Stuttgart and Hildesheim, Germany.
"Medical Mathias Pillin, executive director of the Bosch Group Powertrain Solutions Division and head of the electrified transportation business, said: "EM-motive has supplied motors for vehicle manufacturers such as Daimler, Porsche, Fiat, Volvo, Peugeot and StreetScooter. Through this acquisition, Bosch will focus on opening up new opportunities in the fast-growing global market. "After the completion of the acquisition, EM-motive will become a wholly-owned subsidiary of the Bosch Group, and the acquisition is still pending approval by the anti-monopoly department."
Bosch plans to open up new markets through this acquisition
Bosch and Daimler reached an agreement that the purchase price and any details of the acquisition will not be disclosed. In order to achieve economical production of electric motors, Bosch and Daimler jointly established EM-motive. Due to the small scale of the initial production, the two parties were able to share the high cost of developing and producing motors, which also pushed Bosch and Daimler into the field of motor production earlier.
The motor is the core component of the electric vehicle powertrain system. The higher the efficiency of the motor and the lower the energy consumption, which not only extends the mileage of the electric vehicle, but also significantly reduces the operating costs. With the rapid growth of the electrified transportation business, the electric vehicle market will become the mass market by the beginning of the 2020s.
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