Daimler AG and Robert Bosch GmbH to co-operate to develop electric motors

Daimler AG and Robert Bosch GmbH have announced their intention to expand their long-standing partnership and co-operate in the development and production of electric motors for all-electric vehicles in Europe.

To this end, the companies have signed a letter of intent and begun negotiations to establish a 50:50 joint venture that should be concluded in the first half of this year.

By bundling their competencies, both companies hope to accelerate development advances in electric motors as well as to make accordant synergies accessible.

It is expected that the electric motors developed will be used in Mercedes-Benz and smart electric vehicles from 2012.

In other news, Marcus Breitschwerdt, former President and CEO of Mercedes-Benz Canada, was recently confirmed as the new President and CEO of Mercedes-Benz UK.

He will take over from Wilfried Steffen, who is moving to a new role as Head of Daimler's Business Innovation Division in Stuttgart, Germany.

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