Eaton Adds eMobility
This morning automotive supplier Eaton announced that it has established a new global business that’s named and dedicated to eMobility. The company notes that it presently offers a range of electrified products to the auto industry, such as DC/DC converters, power distribution units, hybrid and battery-electric vehicle transmissions, and that portfolio accounts for approximately $300-million in revenue for 2018.
The company anticipates that by 2030, with the addition of new customers and products, that revenue number will be on the order of $2- to $4-billion.
The newly established business is being headquartered in Southfield, Michigan, and its 1,200 employees are based on locations across the globe. Eaton plans to invest more than $500-million during the next five years to develop news products and technologies to address electrification for passenger car, commercial vehicle and off-highway applications.
According to Jeff Lowinger, president, eMobility, Eaton has well-established know-how in this field: “Our understanding of the unique needs of vehicle customers, along with our experience in transmission and power electronics in the hybrid space, gives us a distinct advantage versus other suppliers.”
Lowinger added, “Customers using Eaton hybrid systems have collectively accumulated an estimate two-billion miles of clean, reliable service.”
According to Eaton, there are more than 15,000 hybrids and plug-in hybrids that are using the company’s tech on the roads in the U.S., Europe, China, and elsewhere in the world.
But there are perhaps more advantages that Eaton has that could be exceedingly germane to its participation in the electrification of the global automotive fleet.
While it is well known as a supplier in the auto industry, the company also has businesses that provide products to a variety of other industries, products and technologies that could have direct or intellectual applicability to the auto industry.
The company produces aerospace actuators and motion control systems. Supercapacitors. Conduit, cable and wire management. Backup power systems. Heat exchangers. Hoses and pumps. Motors and motor control systems. And a list of other things that literally goes on for pages (trust me: I thought about running it but it I really long).
Two points about Eaton’s move: (1) it makes sense to provide focus on what is clearly a burgeoning part of the global auto industry; (2) an extensive portfolio for other industries where things like electrification and lightweighting are key (e.g., aerospace) can be beneficial for providing tech to automotive.
Making improvements to existing engines, as well as working toward something entirely different.
GM gives its mid-size pickup customers what they’ve been clamoring for, a clean and quiet, high-torque, fuel-efficient diesel.
Honda is an engine company.