Siemens, Valeo form joint venture for EV powertrains
The parent companies expect that the market for EV components will expand at a speed of 20 percent annually until 2020. With their still unnamed JV, Siemens and Valeo expect to take a leading position in this growth market. Both parents will hold 50% of the shares each. Siemens contributes its E-Car Powertrain business to the wedding. This business currently employs some 500 workers, 370 of them in Germany and 130 in China. Valeo’s dowry is its Powertrain Systems Business Group (PTS) with some 200 workers, mostly in France.
The JV will assume the sole responsibility for development, sales and production of high-voltage electric motors and power electronics components for voltages of 60V and more. Such components are frequently installed in electric passenger vehicles and light trucks. The product spectrum includes hybrid drive modules and solutions, electric motors, range extenders, DC/DC converters, rectifiers and charging systems as well as entire electric powertrains.
With respect to their product spectrum, their manufacturing expertise and their geographical both parent companies positioning, both companies are very complementary. Being a leading supplier to the automotive industry, Valeo has a strong industrial expertise, providing a worldwide customer base in powertrains with competitive and advanced high- voltage electronics produced by automotive certified production lines. Siemens’ e-car unit leverages the Group’s system design competences in electric drivetrains, its engineering and validation base with high experience in traction motor products. The new company will be based in Erlangen, Germany. In addition, it will run activities in France, Norway, Poland, Hungary and China. It is planned that the JV will resume its activities with 700 workers in the fourth quarter, provided the relevant authorities will grant approval.
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