The Bosch Group is forming a joint venture with Ningbo Polaris Technology, a Chinese provider of motors for electrically driven scooters or eScooters, with Bosch holding the majority. Ningbo makes and sells eScooter motors in China under the POLTM brand, more than one million in 2011 the output of 450 workers.
The global output of eScooters in 2011 was about 27 million units with China making 98% of the production volume. “With a growth rate of 6% annually the market will reach up to 46 million units in 2020”, said Udo Wolz, president of the Bosch Electrical Drives division.
The stated purpose of the joint venture is to develop, manufacture, and sell eScooter motors. Details of the transaction, which is subject to likely approval by the antitrust authorities, were not disclosed by the privately held Bosch.
Bosch, a German-based industrial giant, has sales of more than $63 billion in 2011, with extensive electric motors sales for power windows, steering columns, seats and sliding sunroof units, motors for electrical power steering, as well as modules for engine cooling, vehicle air conditioning, water pumps and valves, and wiper systems.
The new JV is also potentially valuable if it allows Bosch to develop expertise in the growing wheel-hub motor segment, which is the world’s biggest selling motor application for electrical vehicles. Bosch is adding to its existing line of drive units for electrically assisted two-wheelers, also dubbed pedelecs, to complete powertrain systems for hybrid and electric vehicles.