German auto-parts maker and engineering firm Robert Bosch is planning to form a joint venture (JV) with Chinese firm Ningbo Polaris Technology to build motors for electric scooters (eScooters).
As per the agreement, Bosch will hold majority stake in the new JV.
The current deal is expected to assist Bosch in improving its involvement into a new market segment of electrically powered two-wheel scooters.
According to Bosch, Ningbo has been developing motors for electric scooters under the Poltm brand in China and has sold about one million motors in 2011.
Nearly 27 million electric scooters were sold globally in 2011, and by 2020, sales of electric scooters are expected to increase to 46 million units.
Source:
http://www.automotive-business-review.com/news/bosch-to-establish-chinese-jv-to-build-electric-motors-240812
