Feb 10, 2022 - 01:50 pm

Siemens withdraws from electric drive JV with Valeo

Siemens’ exit from the electric drive joint venture it set up with Valeo in 2016 is now official. Siemens has now reached an agreement with Valeo to divest its 50 per cent stake in the Valeo Siemens eAutomotive (VSeA) joint venture for 277 million euros. VSeA has also received a large order from Renault.

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Jul 9, 2018 - 11:52 am

Siemens to exit electric motor JV with Valeo

In future Valeo will be solely responsible for the Valeo Siemens eAutomotive joint venture that they had founded together with Siemens back in 2016. Valeo’s main man in Germany, Derrick Zechmair, confirmed an end to the JV, saying they had planned the exit along.

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