The automotive supplier Bosch and the manufacturer of electric scooters, Ningbo-Polaris will partner to offer motors in a market that grew by 6% last year.
The companies Bosch and Ningbo Polaris will create a joint-venture to invest in the market of electric scooters which is expected to reach 46 million units by 2020.
The German and the Chinese manufacturer of in-wheel motor sold under the brand Poltm -mainly in China- have created the surprise by announcing their partnership.
Unknown in Europe, Ningbo sold more than one million electric powertrain for scooters in 2011. Their production capacity that already relies on a workforce of 450 employees should increase rapidly, several openings of sites are expected to meet the growing demand.
The agreement has been signed earlier this week and the conditions of the transaction, subject to regulatory approvals, have not been disclosed yet but Bosch will have a majority of the joint-venture's shares.