Power management firm Eaton creates a new division aptly named eMobility to develop high-voltage technologies for hybrid and electric vehicles. Solutions will include supercaps, converters or transmissions for heavy-duty EVs and Eaton earmarked $500M over the next 5 years.
Eaton bases their decision on a global vehicle electrification market they believe will grow to 15 million pure battery-electric vehicles and another 30 million hybrids by 2030.
The new unit eMobility focuses on three areas: intelligent power electronics; power systems, and advanced power distribution and circuit protection.
The power distribution and protection category includes fuses, supercapacitors and power distribution units (PDUs), while converters and on-board chargers fall under the power electronics umbrella.
Power systems include electric vehicle transmissions for a variety of medium- and heavy-duty applications, as well as a 48-volt drive system for trucks.
Eaton already sells a range of products for electric and hybrid vehicles such as DC/DC converters, PDUs, hybrid and battery-electric transmissions, and high-voltage fuses that eMobility will use as a base for further expansion. It also counts Nissan among their clients for energy storage applications reportedly.
The company is particularly experienced in hybrid and plug-in hybrid technology and says they have more than 15,000 HEV and PHEV systems on the road in the US, Europe, China and markets in Asia-Pacific. Jeff Lowinger, president, eMobility adds: “Customers using Eaton hybrid systems have collectively accumulated an estimated 2 billion miles of clean, reliable service.”
Eaton plans to invest more than half a billion dollars over the next five years to develop new products and technologies. The firm projects its current electrified portfolio will account for approximately $300 million in revenue in 2018, and forecasts revenues of $2 to $4 billion by 2030.
eMobility is a global business headquartered in Southfield, Michigan, with design centers and manufacturing locations in Asia, Europe and the Americas, and today employs approximately 1,200 employees.