Siemens and Valeo
Joint venture for electric cars
Siemens and Valeo have signed an agreement to establish a joint venture for high-voltage drives. Both companies will each hold a 50% stake in the joint venture.
With the merger, the companies are creating what they say will be a leading global supplier of cost-effective high-voltage components and systems for all types of electric vehicles, from hybrid vehicles and plug-in hybrids to all-electric vehicles. The agreement stipulates that Siemens and Valeo will each hold a 50% stake in the joint venture and thus exercise joint control over the new company; Siemens and Valeo will consolidate their shares using the equity method.
The automotive supplier Valeo will contribute its high-voltage electronics business from the Powertrain Systems Business Group (PTS) with 200 employees, 90 of whom are based in France. Siemens is contributing its E-Car Powertrain Systems business group, which employs 500 people, 370 of them in Germany and 130 in China.
The joint venture assumes sole responsibility for the development, distribution and production of high-voltage electric motors and power electronics products above 60 V, which are used for electric cars and light commercial vehicles. The joint venture will thus be able to offer an extended range of products - from hybrid drive modules and solutions, including electric motors, range extenders, DC/DC converters, rectifiers and chargers, to pure electric drive systems.
The new company will be based in Erlangen. It will be globally oriented and regionally positioned, with access to key markets for electric vehicles such as Europe and China. In addition to the headquarters in Germany, there will be further locations in France, Norway, Poland, Hungary and China.
The project still needs to be agreed with employee representatives; as soon as it has been approved by the relevant authorities, the joint venture is expected to start in the last quarter of the 2016 calendar year.
You might also be interested in
Electric vehicle at a competitive price
e.GO Mobile AG is developing a particularly affordable electric vehicle on the RWTH Aachen Campus: the 'e.GO Life' is expected to cost 12,500 euros in its basic configuration.
read more...Tesla submits billion-euro offer for solar company
The electric car manufacturer Tesla Motors wants to step up its entry into the energy market: On June 21, it made a billion-dollar takeover offer to the US solar company SolarCity - it would pay between USD 26.50 and USD 28.50 per share.
read more...Electric motorcycle from the 3D printer
Airbus subsidiary APWorks demonstrates the possibilities of additive manufacturing: its electric motorcycle 'Light Rider' has an exoskeleton-like chassis from the 3D printer that weighs just 6 kg. Thanks to its material, the motorcycle is extremely...
read more...Strong result in industrial business
In the second quarter of fiscal year 2016, order intake at Siemens rose by 7% to €22.3 billion - an increase of 10% after adjusting for currency translation effects. The Group significantly improved its earnings in the Industrial Sector.
read more...Charging electric vehicles with 350,000 W
Phoenix Contact has presented the CCSplus fast charging system for electric vehicles, which will enable charging times of three to five minutes for 100 km in the future.
read more...Germany's most popular electric cars in 2015
A total of 12,363 electric vehicles were newly registered in Germany in 2015. That's 3,841 more electric vehicles than in 2014 with 8,522 e-cars. The 'eMobility Dashboard Germany' from electriv.net names the most popular models of the past year.
read more...Number of electric cars rises to 1.3 million
Last year, electromobility made considerable gains worldwide. Germany continues to play a subordinate role - but is able to establish its own e-cars on the market for the first time.
read more...News about mobile automation
What products are available on the growing mobile automation market? Computer&AUTOMATION presents a selection of new products in a picture gallery.
read more...MTCON and Sensor-Technik Wiedemann combine expertise
MTConnectivity power2pcb (MTCON) has a new shareholder: Sensor-Technik Wiedemann (STW) has held a stake in the power element manufacturer since the end of 2019.
read more...