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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.
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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.
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