Bosch to Assume Full Control of Electric Motor Manufacturer EM-motive
The joint venture EM-motive was set up by Bosch and Daimler in 2011. Bosch is now assuming full control of the electric motor manufacturer and aspires to become the market leader for electromobility.
Bosch will take over electric motor manufacturer EM-motive. Right from the establishment of the joint venture, the engineering company Bosch secured an option to acquire the shares. The two parties have agreed not to disclose the purchase price or any further modalities of the acquisition.
"The company's electric motors already feature in vehicles made by Daimler, Porsche, Fiat, Volvo, Peugeot, and StreetScooter, among others. With this move, Bosch above all intends to acquire new customers in the rapidly growing global market," says Dr. Mathias Pillin, member of the Powertrain Solutions executive management responsible for the electric-vehicle market segment. According to the press release, the takeover will not have any "immediate effect" on the EM-motive employees currently working at the locations in Stuttgart and Hildesheim, Germany.