• Airways
  • Railway
  • Roadways
  • Shipping & Port
Transport Advancement
  • Home
  • News
  • Projects
    Highways England unveils plans to widen A12

    Highways England unveils plans to widen A12

    African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville

    Geely Holding to Cooperate with China Aerospace Science and Industry Corporation on Developing Technologies Including Supersonic Trains

    AECOM to provide site supervision services for Malaysia’s East Coast Rail Link project

    Talgo obtains €30 million from the European Investment Bank for Innovation projects

    U.S. Department of Transportation Advances Rail Projects in Florida and Texas

    World premiere of the Mercedes-AMG Project ONE: Mercedes-AMG brings Formula 1 technology to the road

    One of the world’s longest electric car highways will be built in Australia

    CX North America Releases Next-Generation Mobile App for Drivers

  • Articles
  • Press Statements
  • Market Reports
    Austal signs agreement to buy BSE Maritime Solutions

    Austal signs agreement to buy BSE Maritime Solutions

    HPC leads machine learning initiative at Hamburg container terminal

    Chinas busiest port sees growth in sea-rail transport

    IATA health checklist to help airlines implement ICAO Covid-19 guidance

    Air cargo demand helps Korean to Q3 operating profit

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Transoft acquired Keysoft Solutions

    Transoft Solutions Completes Acquisition of Uk-based Keysoft Solutions

    GRAHAM

    GRAHAM revenue stabilisation sets the platform for sustainable growth

    DP World Acquires Topaz in USD 1.1 Bn Deal

    DP World Acquires Topaz in USD 1.1 Bn Deal

    Siemens sells electric aircraft-propulsion business to Rolls-Royce

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Projects
    Highways England unveils plans to widen A12

    Highways England unveils plans to widen A12

    African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville

    Geely Holding to Cooperate with China Aerospace Science and Industry Corporation on Developing Technologies Including Supersonic Trains

    AECOM to provide site supervision services for Malaysia’s East Coast Rail Link project

    Talgo obtains €30 million from the European Investment Bank for Innovation projects

    U.S. Department of Transportation Advances Rail Projects in Florida and Texas

    World premiere of the Mercedes-AMG Project ONE: Mercedes-AMG brings Formula 1 technology to the road

    One of the world’s longest electric car highways will be built in Australia

    CX North America Releases Next-Generation Mobile App for Drivers

  • Articles
  • Press Statements
  • Market Reports
    Austal signs agreement to buy BSE Maritime Solutions

    Austal signs agreement to buy BSE Maritime Solutions

    HPC leads machine learning initiative at Hamburg container terminal

    Chinas busiest port sees growth in sea-rail transport

    IATA health checklist to help airlines implement ICAO Covid-19 guidance

    Air cargo demand helps Korean to Q3 operating profit

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Transoft acquired Keysoft Solutions

    Transoft Solutions Completes Acquisition of Uk-based Keysoft Solutions

    GRAHAM

    GRAHAM revenue stabilisation sets the platform for sustainable growth

    DP World Acquires Topaz in USD 1.1 Bn Deal

    DP World Acquires Topaz in USD 1.1 Bn Deal

    Siemens sells electric aircraft-propulsion business to Rolls-Royce

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

  • Events
  • Contact Us
No Result
View All Result
Transport Advancement
No Result
View All Result
Home Press Statements

Siemens enters agreement to exit Valeo Siemens eAutomotive joint venture

15th February 2022
in Press Statements, Roadways
Siemens enters agreement to exit Valeo Siemens eAutomotive joint venture
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Siemens AG has signed an agreement to sell its 50 percent stake in the Valeo Siemens e-Automotive (VSeA) joint venture to Valeo. The positive profit impact of around 300 million Euros will be recorded in the second quarter of fiscal 2022 and closing is expected in July 2022, subject to regulatory approvals.

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.

Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens
Energy, a global leader in the transmission and generation of electrical power. In fiscal 2021, which ended on September 30, 2021, the Siemens Group generated revenue of €62.3 billion and net income of €6.7 billion. As of September 30, 2021, the company had around 303,000 employees worldwide.

Previous Post

Aker Clean Hydrogen and Kuehne+Nagel to Accelerate Green Container Shipping

Next Post

Masabi Forms Strategic Relationship with Fujitsu Australia Ltd to Bring Fare-Payments-as-a-Service to Cities Across Australia and New Zealand

Related Posts

DB Schenker and USA Truck to Combine to Create Premier North American Transportation Solutions Provider
Press Statements

DB Schenker and USA Truck to Combine to Create Premier North American Transportation Solutions Provider

25th June 2022
Electric Cars Are Green, But It Is Tricky To Comprehend
News

Electric Cars Are Green, But It Is Tricky To Comprehend

6th June 2022
Turkish Cargo Awarded as The Fastest Growing Air Cargo Brand In 2022
Press Statements

Turkish Cargo Awarded as The Fastest Growing Air Cargo Brand In 2022

3rd June 2022
Siemens Mobility finalizes contract for 2000 km high-speed rail system in Egypt
Press Statements

Siemens Mobility finalizes contract for 2000 km high-speed rail system in Egypt

1st June 2022
International Airlines Group Finalizes Agreement for Up to 150 737 Jets
Airways

International Airlines Group Finalizes Agreement for Up to 150 737 Jets

23rd May 2022
ABB to support Shell's global EV charging ambitions
Press Statements

ABB to support Shell’s global EV charging ambitions

29th April 2022
Next Post
Masabi Forms Strategic Relationship with Fujitsu Australia Ltd to Bring Fare-Payments-as-a-Service to Cities Across Australia and New Zealand

Masabi Forms Strategic Relationship with Fujitsu Australia Ltd to Bring Fare-Payments-as-a-Service to Cities Across Australia and New Zealand

Latest Post

International Airlines Group Finalizes Agreement for Up to 150 737 Jets
Airways

International Airlines Group Finalizes Agreement for Up to 150 737 Jets

23rd May 2022
easyJet partners with Cranfield Aerospace Solutions (CAeS) on development of zero-emission aircraft
Airways

easyJet partners with GKN Aerospace to accelerate adoption of hydrogen in aviation

29th April 2022
Liebherr and HAL sign Memorandum of Understanding
Airways

Liebherr and HAL sign Memorandum of Understanding

14th April 2022
Eve and ACCIONA enter strategic partnership to accelerate the development of a sustainable Urban Air Mobility ecosystem
Airways

Eve and ACCIONA enter strategic partnership to accelerate the development of a sustainable Urban Air Mobility ecosystem

25th March 2022
Finavia to introduce new security control technology at Helsinki Airport
Airways

Finavia to introduce new security control technology at Helsinki Airport

25th March 2022
Turkish Cargo announced as the winner of the Fastest Growing International Cargo Airline of the Year award
Airways

Turkish Cargo Has Its Service Quality Certified By Cargo iQ

25th March 2022
Transport Advancement

About Us

Transport Advancement is a leading information centric website for latest updates within the industry. We cover Railway, Road Traffic, Airways, Shipping & Port and run with an objective to provide knowledge driven content to our readers and subscribers in various forms like news, projects, upcoming events.

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack
  • Newsletter Subscription

System

  • Search
  • Site map
  • RSS Feed
  • Airways
  • Railway
  • Roadways
  • Shipping & Port

© 2017 Copyright Valuemediaservices 2017 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Articles
  • Press Statements
  • Market Reports
  • Events
  • Contact Us

© 2017 Copyright Valuemediaservices 2017 All rights reserved.