Siemens and Valeo have made a deal on their joint venture partnership, Valeo Siemens eAutomotive (VSeA). The German company has sold its half of the venture it owned to Valeo, which will integrate the division in its powertrain business group.
The closing of the deal is expected to happen this July, and Siemens will have a positive profit impact of around 300 million euros (ca. $342 million).
Valeo has decided to acquire the other half of the joint venture it started with Siemens to accelerate its development in electric mobility solutions. According to the French company, more than 90 electric and plug-in hybrid models on the market by the end of this year will have the company's electric motors, inverters, or onboard charger technologies under their bodies.
As usual with a deal of this magnitude, it will have to be approved by relevant antitrust authorities, but the plan is to fully integrate the business unit into the company after July 1, 2022. The shift of employees will also be handled in accordance with the representative bodies and corresponding laws.
Valeo estimated that it would have an annual growth rate of more than 15 percent, on average, by 2025, for its Powertrain Systems business. The newly acquired division allows the company to have a better integration of high-voltage and low-voltage activities, which were previously separated because the eAutomotive division was a joint venture with another company.
With this announcement, Christophe Périllat, Valeo's Chief Executive Officer, announced a deal with Renault to design, co-develop, and produce a one-of-a-kind type of electric motor.
The new unit is meant for the next generation of electric vehicles, and it will offer more power with less energy. The best part about it is that it will be made without the use of rare-earth metals, which would be an industry first.
The new motor is set to be mass-produced from 2027, and it is supposed to have an output of 200 kW (268 horsepower) while also being completely free of rare earth metals.
Renault is overseeing the design and production of the rotor, which is the spinning part of the motor, while the stator will be designed and made by Valeo along with Valeo eAutomotive.
Valeo has decided to acquire the other half of the joint venture it started with Siemens to accelerate its development in electric mobility solutions. According to the French company, more than 90 electric and plug-in hybrid models on the market by the end of this year will have the company's electric motors, inverters, or onboard charger technologies under their bodies.
As usual with a deal of this magnitude, it will have to be approved by relevant antitrust authorities, but the plan is to fully integrate the business unit into the company after July 1, 2022. The shift of employees will also be handled in accordance with the representative bodies and corresponding laws.
Valeo estimated that it would have an annual growth rate of more than 15 percent, on average, by 2025, for its Powertrain Systems business. The newly acquired division allows the company to have a better integration of high-voltage and low-voltage activities, which were previously separated because the eAutomotive division was a joint venture with another company.
With this announcement, Christophe Périllat, Valeo's Chief Executive Officer, announced a deal with Renault to design, co-develop, and produce a one-of-a-kind type of electric motor.
The new unit is meant for the next generation of electric vehicles, and it will offer more power with less energy. The best part about it is that it will be made without the use of rare-earth metals, which would be an industry first.
The new motor is set to be mass-produced from 2027, and it is supposed to have an output of 200 kW (268 horsepower) while also being completely free of rare earth metals.
Renault is overseeing the design and production of the rotor, which is the spinning part of the motor, while the stator will be designed and made by Valeo along with Valeo eAutomotive.