German automaker Daimler AG and parts supplier Robert Bosch GmbH have announced plans to establish a 50:50 joint venture (JV) focused on electric motors for advanced technology vehicles. Terms of the JV should be finalized by mid-2011, with joint production of electric motors scheduled to commence in 2012. Daimler's press release reads:
It is envisioned that the electric motors developed will be used in Mercedes-Benz and Smart electric vehicles from 2012. Subsequent sales to other automakers are to be handled by Bosch.
The joint venture will work out of two locations, one in Stuttgart, Germany and the other in the northern German city of Hildesheim. Financial details of the agreement weren't disclosed, but we can see again how automakers and suppliers are forging alliances to benefit from economies of scale and reap cost synergies, especially in the field of alternative technology vehicles.
em: http://green.autoblog.com/2011/04/12/da ... t-venture/