Daimler and Bosch to Form Electric Motors JV

Daimler AG announced today it has selected automotive supplier Robert Bosch GmbH as its partner in the development and production of electric motors for all-electric vehicles in Europe. The companies have already signed a letter of intent and begun negotiations to establish a 50:50 joint venture that should be concluded in the first half of 2011.

Production is scheduled to begin sometime in 2012, and it is projected that the electric motors developed will be used in Mercedes-Benz and smart electric vehicles from that year forward.

“Both companies aim, by bundling their competencies, to accelerate development advances in electric motors as well as to make accordant synergies accessible. According to their letter of intent, joint production should start in 2012,” a statement from Daimler reads.

Subsequent sales to other automakers are to be handled by Bosch. The joint activities will be located in the greater Stuttgart area and in Hildesheim.

“The Bosch Group is a leading supplier of technology and services to the automotive sector. It has a high level of competence in developing and producing electric motors, which it is already manufacturing in series in Hildesheim,” the statement further adds.

“The automotive manufacturer Daimler has built up 20 years of experience in the area of electric vehicles as well as their key components electric motor and battery, giving it a comprehensive understanding of how results can be best achieved in this field,”
it concluded.

The news comes shortly after another premium car brand decided to develop its electric motors. Specifically, BMW created the “i” sub-brand for its electric vehicles and aims to produce the unit’s first model, the i3 battery-powered city car, in 2013.
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