Electric Motors Market Growth is Accelerated as Renault, Valeo Siemens, and Valeo team up to Scale

Valeo, Renault Group, and Valeo Siemens eAutomotive announced that their collaboration will be the 1st mass to produce an electric motor of 200kWs without the usage of rare earths.

Renault planned for the development and production of the EESM rotor technology. It offers an enhanced energy performance that is specially designed without the usage of rare earths. Also, additionally, based on the individual company’s experience, the overall framework of architecture for the all-in-one motor for Renault Group will also be effectively designed by Renault.

Valeo Siemens eAutomotive and Valeo are likely to develop and produce the stator, collaboratively which is exclusively based on Valeo’s various technological experiences in the field of Cu wire assembly. By the usage of a relatively higher density of copper in the stator, Valeo will now be able to generate more wattage of power without relying on electrical energy.

The electric motor market is expected to reach a benchmark of USD 113.74 Bn in 2020 to USD 223.12 billion by 2030, at a CAGR of 6.97% during the forecasted period. The increase in global electricity consumption and the use of electrical equipment and machines in different industries are the major factors that are driving the growth of the electric motor market during the forecasted period.

Significant changes in electric vehicle technologies have been witnessed in Europe. Some of the proactive steps and measures are taken for the decarbonization of society are resulting in the increased adoption of electric vehicles that use electric motors. According to IEA, China is estimated to account for up to 50% of the global passenger vehicles that are driven by electric motors by 2025.

Renault CEO, Luca de Meo stated that “Together, we are planning to develop a new generation of highly upgraded electrical motors that will be produced at our Cléon plant,”

“This partnership will result in an elaborate demonstration of our capacity for being at the forefront of the electrical revolution occurring in the automotive industry and also to anchor the French automotive value chain.”

Christophe Périllat, Valeo’s CEO, stated that: “This strategic partnership is a pivotal step for the enhancement of electric mobility. Alongside Renault Group, we are on the verge of developing a new-generation automotive electric motor that will completely eliminate the usage of rare earths. “This new electrical motor will adequately meet all the environmental necessities and some of the highest performance standards.