“Siemens distances itself from the e-car”
Germany’s largest industrial manufacturer Siemens might soon end its advance into e-car engine production together with French supplier Valeo, Thomas Hanke and Axel Höpner write in Handelsblatt. By the end of 2021, Siemens might make use of a put option and sell its share to Valeo, the authors say. The joint project, Valeo Siemens eAutomotive, “does not bear as many synergies as predicted”, analysts say, according to the article.
Read the article in German here (behind paywall).
See the CLEW artilcle Frankfurt car show puts spotlight on German carmakers’ troubles for more information.