Mexican Media Brands
Siemens, Valeo Launch EV Motor Venture
Siemens AG and Valeo SA have agreed to jointly make electric motors, onboard chargers, inverters and other high-voltage components for electric, plug-in and hybrid vehicles.
#hybrid
Share
Siemens AG and Valeo SA have agreed to jointly make electric motors, onboard chargers, inverters and other high-voltage components for electric, plug-in and hybrid vehicles. Financial details were not disclosed.
The 50:50 alliance hopes to begin operations late this year. The still-unnamed company, which will be headquartered in Erlangen, Germany, will combine Valeo’s 200-member E-Car Powertrain Systems unit with Siemens’ 500-member high-voltage power electronics operations.
Both companies will contribute their staff and know-how for systems handling more than 60 volts. Lower-voltage operations won’t be included. The venture will operate facilities in China, France, Hungary, Norway and Poland.
The partners say their product portfolios and geographical spread complement each other will help them develop a global base for their electro-mobility products.
RELATED CONTENT
-
Tesla Owners in Germany Ordered to Return Subsidy
Germany has ordered about 800 Tesla Model S electric cars owners to pay back a €4,000 ($4,700) government subsidy they received.
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.
-
Will Alcraft Take Off?
“British electric vehicle start-up Alcraft Motor Company has revealed details of its first car, the high-performance Alcraft GT.