25 Jul 2024

AUTOMATION FOR MANUFACTURING

Bosch buys Daimler’s stake in their EV motor venture

Bosch hopes that its EV motor manufacturing business will make it the market leader

Robert Bosch has bought Daimler’s share of EM-motive, the 50:50 joint venture that they set up in 2011 to manufacture electric motors for electric and hybrid vehicles. The terms of the deal have not been disclosed.

Since EM-motive started operations, it has produced around 450,000 motors for customers including Daimler, Porsche, Fiat, Volvo and Peugeot. It currently employs about 340 people at locations in Stuttgart and Hildesheim in Germany.

“For Bosch, the complete acquisition of EM-motive is the next logical step on the path to becoming the market leader for electromobility,” says Dr Stefan Hartung, chairman of Bosch’s Mobility Solutions business. “It’s a chance to establish an even broader presence in the market.”

Bosch predicts that by 2020, 20% of all cars will be either pure-electric or hybrid-electric.