FREMONT, CA: Siemens and Valeo announce a partnership to provide high-voltage powertrains for electric cars which include hybrids, plug-in hybrids, and fully electric vehicles.

Siemens is an electrical and electronic manufacturing company and Valeo is an automotive manufacturing company that proposes innovative products and systems that contribute to CO2 emissions reduction and improved vehicle performance. The partnership aims to produce innovative and affordable high-voltage components and systems for an entire range of electric vehicles.

With the electric vehicle components market expecting to grow with a compound annual growth rate of more than 20% by 2020, the latest partnership aims to become one of the stronger players in the fast-growing market of automotive electrification.

Valeo will contribute its high-voltage power electronics business which includes 200 of its employees, and which is part of the Powertrain Systems Business Group (PTS). Siemens will contribute its E-Car Powertrain Systems Business Unit, employing around 500 people.

The joint venture will have full business liability for the development, sales and production of high-voltage electric motors and power electronics products above 60V as these electric motors are required for electrified passenger cars and light commercial vehicles. The joint venture aims to provide an extended range of products such as hybrid drive-train modules and solutions, electric motors, range-extenders, DC/DC converters, inverters and chargers, and a fully electrified powertrain.

"We are delighted at the perspective of combining our strengths with Siemens in electrified powertrain systems," says Jacques Aschenbroich, Chairman and Chief Executive Officer,  Valeo. "With the expertise offered by Siemens, a leader in power electronics and electric motor product, Valeo would maintain its technological lead by offering a comprehensive line-up of technologies ranging from micro-hybrid to all-electric solutions.

This joint venture also illustrates the ability of European companies to develop leading industrial partnerships to bring breakthrough technologies to the global market,” he added.