German subsidiary of SB LiMotive Co. Ltd. set up
· Development of battery systems as well as sales and marketing located in Germany
· “SB LiMotive Germany GmbH” located in Stuttgart
· Start of business activities in January 2009
Following the establishment of the joint venture “SB LiMotive Co. Ltd.” by Bosch and Samsung SDI in September 2008, the German subsidiary is now also starting up: “SB LiMotive Germany GmbH,” located in Stuttgart, was founded effective October 27. The subsidiary will be responsible for development of battery systems as well as sales and marketing. Initially, some 50 associates will work at the company. Further expansion up to 90 associates is planned by the year 2010. “SB LiMotive Germany GmbH” will start its business activities as a wholly owned subsidiary of “SB LiMotive Co. Ltd.” from January 2009.
The purpose of the Bosch and Samsung SDI joint venture “SB LiMotive Co. Ltd.” is to develop, manufacture, and market high-performance lithium-ion batteries for automotive applications worldwide. The joint venture further expands Bosch’s product portfolio. In the future, the company will be able to provide the full range of components for hybrid and electric drives – from the energy storage device to the electric motor.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 271,000 associates generated sales of 46.3 billion euros in fiscal 2007. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in roughly 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Each year, Bosch spends more than 3 billion euros for research and development, and applies for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.”
The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.
Additional information can be accessed at www.bosch.com.
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