Image courtesy of Bosch

THE TECH

Freudenberg acquires majority share of XALT Energy Bosch acquires motor maker EM-motive from Daimler Bosch has acquired electric motor manufacturer EM-motive from Daimler. Since Bosch and Daimler set up EM-motive as a fifty-fifty joint venture in 2011, the company has manufactured some 450,000 electric motors. “For Bosch, the complete acquisition of EM-motive is the next logical step on the path to becoming the market leader for electromobility,” said Stefan Hartung, a Chairman of Bosch’s Mobility Solutions business sector. “It’s a chance to establish an even broader presence in the market.” “The company’s electric motors are already featured in vehicles made by Daimler, Porsche, Fiat, Volvo, Peugeot, and StreetScooter, among others,” says Mathias Pillin, a member of the Powertrain Solutions executive management team, who is responsible for the EV market segment. “With this move, Bosch above all intends to acquire new customers in the rapidly growing global market.”

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Freudenberg Sealing Technologies has acquired a majority share of XALT Energy, a manufacturer of battery solutions for heavy-duty EVs. XALT produces high-energy storage solutions for industries including automotive, rail, marine, industrial operations and commercial transportation. The majority stakeholder acquisition comes with a multi-million dollar investment that will allow XALT to increase production at its Michigan plant and ramp up its R&D. Freudenberg acquired a 31% ownership stake in XALT through a prior investment in 2016, and now has a standing agreement to acquire all remaining shares of XALT over the next few years. “We are pleased that this investment provides a muchneeded capital boost to XALT Energy and also puts Freudenberg in the driver’s seat,” said Freudenberg CEO Claus Moehlenkamp. “This acquisition is a crucial part of our future business strategy to transform as a supplier into a market leader of new mobility technologies and services. As our customers transition to lithium-ion battery and fuel cell powertrain options, our investment in XALT Energy will enhance our ability to supply them with materials, products and systems solutions that meet new, complex technical challenges.”