Bosch plans to make a joint venture with Ningbo Polaris Technology, a Chinese company providing engines for electric scooters.
The joint venture, with Bosch holding the majority, will develop, produce and sell products for eScooter motors. The agreement was signed today, but the companies still have to receive approval of the antitrust authorities. Ningbo Polaris Technology produces and sells in China eScooter motors under the POLTM brand. Last year the company sold more than 1 million motors and had 450 associates.
In 2011 the eScooter market global production output was about 27 million units, with China its main manufacturing location (98% of the production volume). The company plans to reach a 6% increase annually to 46 million units in 2020.
“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”, said Udo Wolz, president of the Electrical Drives division.
Bosch Electrical Drives is a well known provider of services and system solutions for electric actuation of steering columns, power windows, sliding sunroof units, seats, also offering modules for engine cooling, motors for electrical power steering, water pumps, vehicle air conditioning and wiper systems.