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Eaton Forms eMobility Unit
Eaton has created an eMobility business group and plans to invest more than $500 million in it over the next five years todevelop new products and technologies for passenger and commercial vehicle applications.
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Eaton has created an eMobility business group and plans to invest more than $500 million in it over the next five years to develop new products and technologies for passenger and commercial vehicle applications.
The new unit combines some existing products and manufacturing capabilities from the supplier’s Electrical and Vehicle Groups. Eaton expects eMobility to generate $300 million in sales this year and as much as $4 billion by 2030.
The latter focuses on the commercial truck market in such areas as electric transmissions and 48-volt regenerative accessory drives.
Eaton says the new group will be able it to respond to the market faster. Most of the unit’s growth is expected to come from expanding current products and developing new ones internally rather than through acquisitions. Eaton forecasts industry sales of full-electric and hybrid vehicles will reach 15 million and 30 million units per year, respectively, by 2030.
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