STUTTGART, GERMANY -- Daimler AG and Robert Bosch GmbH have formed a 50:50 joint venture to develop and produce electric vehicle motors.
The venture, still subject to approval of anti-trust authorities, is called EM-motive GmbH.
The company will have its headquarters and manufacturing facilities in Hildesheim. The joint venture’s engineering site will be located close to the parent companies in the Stuttgart area.
About 100 employees are expected to start working for the joint venture in the fourth quarter of this year. EM-motive GmbH will be headed up by two directors of equal rank, one from each partner company.
"Like lithium-ion batteries, electric motors are key components for our electric vehicles,” said Dr. Herbert Kohler, Daimler AG chief environmental officer. “It is extremely important that competence in this field is maintained in Germany. In joining forces with Bosch, we have now teamed up with a longstanding partner and are confident that this move will lead to outstanding results."