Bosch has announced a complete takeover of electric motor specialist EM-motive for an undisclosed price. Bosch and Daimler joined hands for an equally split share while setting up EM-motive in 2011, to make it viable for the two partners to enter electric-motor manufacturing. Since then, EM-motive has manufactured around 4.5 lakh electric motors and its electric motors already feature in vehicles made by Daimler, Porsche, Fiat, Volvo, Peugeot, and StreetScooter, among others.
Electromobility business is growing rapidly, and by the start of the next decade at the latest, it will have developed into a mass market, stated the company. The motor is a key component in the electrical powertrain: the more efficiently it works, the less energy it consumes, which not only means greater range, but also significantly lower operating costs. 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. The existing company EM-motive GmbH will be transferred to Robert Bosch GmbH. The acquisition of the shares is subject to approval by the antitrust authorities.
Dr. Stefan Hartung, member of the board of management of Robert Bosch GmbH and chairman of its Mobility Solutions business sector, said the complete acquisition of EM-motive is the next logical step on the path for becoming the market leader in electromobility and to establish a broader presence in the market.