Daimler and Robert Bosch are to develop and make electric motors for all-electric vehicles in Europe. They 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.
Joint production should start in 2012 of motors for Mercedes-Benz and Smart electric vehicles. Subsequent sales to other automakers will be handled by Bosch.
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The JV will be based in Stuttgart and in Hildesheim where Bosch already has an electric motor manufacturing unit.
