Daimler AG and Robert Bosch GmbH said Thursday that they have signed agreements on the establishment of a 50:50 joint venture for electric motors.
The new company, which is to be set up under the name EM-motive GmbH, will develop and produce innovative electric motors – also known as traction motors – for electric vehicles.
Daimler’s plan to forge a joint-venture with Bosch was announced in April.
EM-motive GmbH will have its headquarters and manufacturing facilities in Hildesheim. The joint venture’s engineering site will be located close to the parent companies in the Stuttgart area. Some 100 employees are expected to start working for the joint venture in the fourth quarter of this year. EM-motive GmbH will be headed up by two directors of equal rank, one from each partner company.
The aim of the cooperation between Daimler and Bosch in the field of electric mobility is to pool competencies and exploit synergies, and as a result to accelerate the development of premium traction motors for electric vehicles with battery, fuel cell, or range extender. The preparatory activities for the establishment of the joint venture have already begun, and the production of motors is due to commence at the start of 2012. From that same year, the traction motors will be used in the electric vehicles of both the Mercedes-Benz and smart brands, starting with the new generation of the smart fortwo electric drive, which is to go on sale in early 2012.
The distinctive feature of the electric motors produced by the joint venture is their modular design, which means that they can be installed in a wide variety of all-electric vehicles.
The joint venture will supply its parent companies with electric motors for electric vehicles. Sales to third parties will be carried out by Bosch. According to current plans, the joint venture will have produced more than one million electric motors in all by 2020.
