Knorr-Bremse invests in Chinese supplier Bobang
Knorr-Bremse has invested in the Chinese electric motor supplier Bobang and in return receives a company share of approximately 13 per cent. In addition to the investment, Knorr-Bremse is also planning development projects with Bobang.
Knorr-Bremse is already working on energy management systems, electromechanical actuators and enhanced vehicle stabilization and drive functions, among other things. At the beginning of 2021 the supplier announced its intention to position itself for the next generation of e-commercial vehicles (“which will be on the market from around 2025”) by setting up an in-house development unit called eCUBATOR. Subsidiary Kiepe Electric is also focusing on emission-free public transport and on the development and installation of complete electric systems.
Now Knorr-Bremse is announcing that it will “further strengthen and accelerate” its activities in the field of e-commercial vehicle components through a close tie-up with Bobang. The focus is specifically on expanding electric drive competencies. Bobang was founded in 2012 and has so far focused on the Chinese passenger car market. The cooperation will enable the company to expand its product portfolio for commercial vehicles.
Knorr-Bremse says it has signed “investment and cooperation agreements in the mid-single-digit million euro range” with Bobang. The investment in the Chinese supplier will make the Germans the second largest shareholder in Bobang and give them a seat on the Board of Directors. “By investing in Bobang, we’re pursuing sustainable development through our bolt-on M&A strategy. Essentially, we’re responding to the automated driving and e-mobility industry trend by further enhancing our e-motor capabilities,” said Bernd Spies, Member of the Executive Board of Knorr-Bremse AG and responsible for the Commercial Vehicle Systems division. And: “Together with Bobang, we’re strengthening our resources for developing new e-mobility products so we can offer cost-competitive solutions to our customers worldwide. This investment is also an excellent demonstration of our long-term commitment to and confidence in China.”
According to Changri Ke, Vice President of Research and Development at Bobang, the combined forces will allow his company to leverage a powerful combination of cutting-edge technology and manufacturing excellence “to deliver best-in-class but affordable products to customers in the automotive industry – not just in China, but around the world.”
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