Bosch taking full control of EM-motive electric motor JV with Daimler
25 January 2019
Bosch is now taking full control of EM-motive, one of Europe’s most successful manufacturers of electric motors. Bosch and Daimler set up EM-motive GmbH as a fifty-fifty joint venture in 2011. Since then, it 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.—Dr. Stefan Hartung, member of the board of management of Robert Bosch GmbH and chairman of its Mobility Solutions business sector
Bosch secured an option to acquire the shares from Daimler of the JV at its formation. A complete takeover was thus already an option in the joint venture agreement. 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 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.—Dr. Mathias Pillin, the member of the Powertrain Solutions executive management responsible for the electric-vehicle market segment
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.
The two parties 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. As a result, Bosch and Daimler were able to enter electric-motor production early.