Bosch Buys Daimler Stake in Electric Motor JV

Robert Bosch GmbH is acquiring Daimler AG’s stake in the 50:50 EM-motive GmbH electric motor joint venture the companies established in 2011.

Financial terms of the deal weren’t disclosed. Bosch says the acquisition will help it expand its electromobility business and better integrate electric motors with its other products. The supplier plans to maintain EM-motive’s 340 workers in Stuttgart and Hildesheim, Germany.

EM-motive has produced 450,000 electric motors since 2011. The motors are used in hybrid and full electric vehicles made by Daimler, Fiat, Peugeot, Porsche, Volvo and the German Post Office’s StreetScooters.

Bosch says partnering with Daimler helped the companies share development costs and scale up production as electrified vehicles were introduced.

Bosch, which also supplies 48-volt mild hybrid batteries and electric axle systems, says its components are in more than one million electrified vehicles worldwide. The company predicts the global market for electrified vehicles will reach 20% of the market by 2025 and 25% by 2030.