German technology and services provider Robert Bosch GmbH will form a joint venture with China's Ningbo Polaris Technology, a Chinese manufacturer of motors for electrical two-wheel scooters, with Bosch holding the majority stake.
The joint venture, signed by the two companies on Aug 13, will develop, make, and sell a comprehensive product portfolio of eScooter motors.
Further details of the deal, which is subject to approval by the antitrust authorities, were not disclosed.
The global output of the eScooter market in 2011 was about 27 million units. China was, and will remain, the dominant manufacturing location, with 98 percent of the production volume.
"With a growth rate of 6 percent per annum the market will reach up to 46 million units in 2020," said Udo Wolz, president of Bosch's Electrical Drives division.
Ningbo Polaris Technology specializes in developing, making, and selling eScooter motors in China under the Poltm brand. Last year, the company sold more than one million eScooter motors.
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.
The deal is expected to help boost Bosch's endeavors to exploit a new market segment of electrically powered 2-wheelers and to develop competences in the growing wheel-hub motor segment, which is the world's biggest selling motor application for electrical vehicles.
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