Bosch buys out Daimler at EM-motive
Automotive supplier Robert Bosch has acquired Daimler's stake in EM-motive, a manufacturer of motors for electric and hybrid cars set up as a joint venture by both companies.
For Bosch, the acquisition is the “next logical step on the path to market leadership in electromobility”, said Stefan Hartung, member of the company's board of management and chairman of its Mobility Solutions business sector. Bosch aims to expand EM-motive's factory (pictured) at Hildesheim, near Hanover, to meet the growing demand for electric motors for EVs and hybrids.
EM-motive is a supplier for Daimler, Porsche, FCA, Volvo, PSA and start-up StreetScooter. It is keen to expand its customer range.