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Thursday, 14 April 2011

Daimler and Bosch to establish joint venture for electric motors

April 14, 2011
Daimler and Bosch plan to jointly develop and produce electric motors all-electric cars in Europe. This partnership demonstrates the shift towards alternative fuel and clean energy vehicles in the automotive sector.
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 2011. The joint venture production is planned for 2012.
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