Bosch fully acquires EM-motive from joint venture with Daimler
January 29, 2019 by Manufacturing AUTOMATION
January 29, 2019 – Bosch has assumed full control of EM-motive, a European manufacturer of electric motors that was set up as a 50-50 joint venture with Daimler in 2011.
Since then, EM-motive has manufactured some 450,000 electric motors. “For Bosch, the complete acquisition of EM-motive is the next logical step on the path to becoming the market leader for electromobility. It’s a chance to establish an even broader presence in the market,” says Dr. Stefan Hartung, member of the board of management of Robert Bosch GmbH and chairman of its mobility solutions business sector.
At the establishment of the joint venture, Bosch secured an option to acquire the shares. 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, Germany.
Damiler and Bosch have agreed not to disclose the purchase price or any further details of the acquisition. 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.