Siemens and Valeo are teaming up to make engines for electric and hybrid cars. The venture, slated to become operational late this year, will have headquarters in Erlangen, Germany, and facilities in France, Norway, Poland, Hungary, and China.
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The venture will develop and sell high-voltage electric motors, range extenders and chargers used in electrified cars and light commercial vehicles.
“With the expertise offered by Siemens, a leader in power electronics and electric motor products, Valeo would maintain its technological lead by offering a comprehensive line-up of technologies ranging from micro-hybrid to all-electric solutions,” said Valoe CEO Jacques Aschenbroich.
Siemens managing board member Klaus Helmrich said: “The Valeo-Siemens joint venture is yet another example of forming a true Europe-based company.”
The venture will combine Valeo’s high-voltage power electronics business, which employs 200 people, with the E-Car Powertrain Systems business unit at Siemens that employs around 500.
