Daimler AG and Robert Bosch GmbH have established a 50:50 joint venture for electric motors. The new company, which is to be set up under the name EM-motive GmbH, will develop and produce electric motors – also known as traction motors – for electric vehicles. The company will have its headquarters and manufacturing facilities in Hildesheim. The joint venture’s engineering site will be located close to the parent companies in the Stuttgart area. Around 100 employees are expected to start working for the joint venture in the fourth quarter of this year.