Power management company Eaton is creating a new electric vehicle products business.
With a focus on intelligent power electronics, power systems, and advanced power distribution and circuit protection, eMobility is poised to capitalize on a global vehicle electrification market projected to grow to 15 million pure battery-electric vehicles and another 30 million hybrids, from mild to plug-in, by 2030.
eMobility was formed by combining products, expertise and global manufacturing capabilities from Eaton’s Electrical and Vehicle businesses. Eaton plans to invest more than $500 million over the next five years to develop new products and technologies, including smart diagnostic technologies, intelligent power electronics and predictive health monitoring, to further strengthen its global capabilities and deliver intelligent electrification products and solutions to passenger car, commercial vehicle and off-highway customers.
Eaton has over 15 years of experience in developing hybrid systems with more than 15,000 HEV and PHEV systems on the road in the U.S., Europe, China and other Asia-Pacific markets.
eMobility focuses on three primary areas for both automotive and commercial vehicle customers: 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 (EV) transmissions for a variety of medium- and heavy-duty applications, as well as a 48-volt regenerative accessory drive system for heavy-duty trucks.
Eaton’s existing line of electrified products — which includes DC/DC converters, PDUs, hybrid and battery-electric transmissions, and high-voltage fuses — serve as the foundation for eMobility to build additional growth as electrification increases.
Eaton projects its current electrified portfolio will account for about $300 million in revenue in 2018, and forecasts revenues of $2 to $4 billion by 2030 as new products and customers are added to the eMobility portfolio.
eMobility is a global business headquartered in Southfield, Michigan, with design centers and manufacturing locations in Asia, Europe and the Americas, and today employs about 1,200 employees.