Discover the PCIM Europe

ELECTROMOBILITY Siemens quits joint venture with Valeo

From Nicole Kareta

Siemens AG has signed an agreement to sell its 50 % stake in the Valeo Siemens e-Automotive (VSeA) joint venture to Valeo. The positive profit impact of around EUR300 million will be recorded in the second quarter of fiscal 2022 and closing is expected in July 2022, subject to regulatory approvals.

Related Companies

VSeA was founded in 2016 with Siemens contributing its eCar powertrain systems business including e-motors and power electronics.
VSeA was founded in 2016 with Siemens contributing its eCar powertrain systems business including e-motors and power electronics.
(Source: Siemens AG)

Roland Busch, President and Chief Executive Officer of Siemens AG: “Together with our partner, we successfully positioned the joint venture as a leader in its market space and have now determined an excellent long-term approach. Single ownership and full integration with Valeo provide very strong prospects for the business, its employees and customers. This also marks another important step to sharpen our portfolio as a focused technology company.”

Ralf Thomas, Chief Financial Officer of Siemens AG: “The exit from the joint venture with Valeo is another proof point of our consistent portfolio company strategy. We continue to find the best possible set up for our portfolio companies to deliver long-term value for all stakeholders.”

VSeA was founded in 2016 with Siemens contributing its eCar powertrain systems business including e-motors and power electronics. Valeo and Siemens have achieved the joint target of building a globally recognized leader in the field of electric mobility, now providing the right timing for Siemens to transfer its stake in VSeA to its partner. Single ownership has been an intended option of the joint venture for both sides from the beginning and will now support the future development of the business under the sole shareholding of Valeo going forward.

PCIM Europe Talks - Become a Sponsor!

PCIM Europe Talks is a German-speaking interactive event series with changing trend topics in the field of power electronics. Suppliers in the field of power electronics and the focused main topic can draw attention to themselves and position their company by getting a sponsoring package.
In addition to numerous other benefits, participation in all program highlights of PCIM Europe Talks is included in the sponsorship package, giving you additional opportunities for exchange and interaction. These include:

  • 6 technical presentations by renowned experts
  • Talk of the Day: concluding discussion with the day's speakers
  • Get-together: Evening out together with snacks and drinks

  • Get more information!

    Subscribe to the newsletter now

    Don't Miss out on Our Best Content

    By clicking on „Subscribe to Newsletter“ I agree to the processing and use of my data according to the consent form (please expand for details) and accept the Terms of Use. For more information, please see our Privacy Policy.

    Unfold for details of your consent

    (ID:47992242)