Bosch bought out Daimler's stake in EM-motive.

Bosch, a world leading multinational engineering and electronics company, bought out Daimler's stake in EM-motive, a joint venture the companies set up to make motors for electric and hybrid cars. Financial terms were not disclosed. “The company’s electric motors already feature in vehicles made by Daimler, Porsche, Fiat, Volvo, Peugeot, and StreetScooter, among others. With this move, Bosch above all intends to acquire new customers in the rapidly growing global market,” says Dr. Mathias Pillin, the member of the Powertrain Solutions executive management responsible for the electric-vehicle market segment.