The Bosch Group plans to form a joint venture with Ningbo Polaris Technology, a Chinese provider of motors for electrically driven scooters (eScooters), with Bosch holding the majority. The joint venture is to develop, manufacture, and sell a comprehensive product portfolio of eScooter motors. An agreement to this effect was signed on August 13, 2012. It has been agreed that details of the transaction, which is subject to approval by the antitrust authorities, will not be disclosed. Ningbo Polaris Technology specializes in developing, manufacturing, and selling of eScooter motors in China under the POLTM brand. In 2011, the company sold over one million eScooter motors and employed some 450 associates.
“With a growth rate of 6% per year, the market will reach up to 46 million units in 2020,” said Udo Wolz, president of the Electrical Drives division. “Therefore, besides being a strong addition to Bosch Electrical Drives, the establishment of this joint venture is a milestone for us as we move into the global eScooter motor market.”
Bosch is adding to its extensive portfolio of electromobility solutions–a portfolio that ranges from drive units for electrically assisted two-wheelers, also known as pedelecs, to complete powertrain systems for hybrid and electric vehicles. “We can see excellent growth opportunities,” said Dacheng Luo, CEO of Ningbo Polaris Technology. “As a preferred partner of the global automotive industry, Bosch Electrical Drives offers system solutions for automotive applications, and can draw on a broad portfolio of leading motor technologies.”
Bosch Electrical Drives offers system solutions and services for electric actuation of 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. Bosch Electrical Drives products provide direct benefits to the drivers and passengers as well as to the environment through enhanced driving comfort and reductions in fuel consumption and CO2 emissions.