Bosch acquires Daimler’s stake in electric motor joint venture

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The German car supplier Bosch has announced that they have bought Daimler’s share in EM-Motive. It was a joint venture designed to build engines for both electric and hybrid vehicles.

The factory in Hildesheim, Germany, will be expanded. This should meet the growing demand for both electric and Hybridge vehicles. This is a well-timed takeover, partly because governments around the world are taking more and more measures against cars that run on an internal combustion engine.

Growing market

Bosch believes that the market may well become very large. The company expects that by 2020 twenty percent of all cars on the roads will be hybrid or electric. The acquisition of EM-Motive is in this sense not a bad thing: the potential of the market is very large.

E-Motive currently supplies engines to Daimler, Porsche, Fiat, Volvo, Peugeot and startup car manufacturer Streetscooter. At the same time, the company wants to focus as much as possible on new customers. This plan is also endorsed by Bosch, which intends to attract as many new customers as possible.

Unknown amount

The amount involved in the acquisition of Daimler’s share is not known. In a reaction to the Reuters press agency, it does state that it has always had the option of buying out its joint venture partner in 2019. In the meantime, Daimler has announced that EM-Motive will remain a supplier.

In addition, Daimler announces that it will continue to supply electric motors to suppliers all over the world. Daimler employees campaigned for the development and production of electric motors in their own factory. In this way, it would have to rely less on external suppliers.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.