Knorr-Bremse, which manufactures braking systems and other systems for rail and commercial vehicles, has made an investment in the Chinese e-motor supplier Bobang.
This gives Knorr-Bremse a minority stake in the company of around 13 percent. This makes Knorr-Bremse Bobang’s second-largest shareholder.
Knorr-Bremse made this investment decision to strengthen its position in the braking and steering systems market aimed at commercial vehicles by increasing its e-motor competencies and making it more cost-competitive.
Bernd Spies, Member of the Executive Board of Knorr-Bremse AG, said:We're delighted to announce our partnership with Bobang. 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.
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.
The partnership, the two companies hope, will help both Knorr-Bremse and Bobang enhance and accelerate their response to the electrification of commercial vehicles.
