Midea Group acquires e-bike drive system manufacturer Motinova

FOSHAN, China – The home appliance giant Midea Group took over the e-bike drive system manufacturer Motinova. Midea Group, a well-known Fortune 500 company founded in 1968. Recently Midea announced a 11 billion yuan (€1.56 billion) investment schema to establish a new business for the production of parts for new energy vehicles. The take-over of Motinova is part of that strategy.
Motinova opened its Vietnam facility in 2019. – Photo Motinova

Motinova, founded in 2016 by HL Corps and TTium Motor, focuses on the development and manufacturing of bicycle power assist systems, providing power assist systems and solutions for global bicycle manufacturers. The company operates two factories in Wuhan, China and Ben Cat Town, Vietnam, together with six global service centers in the Netherlands, France and the UK.

Sustainable two-wheeled mobility

The acquisition of Motinova by Midea Industrial Technology is an important step for Midea to further expand our footprint in the intelligent transportation industry and enter the market for sustainable two-wheeled mobility, the company wrote in a statement. After the acquisition, Midea Industrial Technology and Motinova aim to work closely together with customers to provide consumers with low-carbon and environmentally friendly green mobility.

Improve Motinova’s competitiveness

“The advanced technology research resources of Midea Industrial Technology, our cutting-edge motor technology solutions, automated production line and perfect supply chain system are a guarantee for the further improvement of Motinova’s product competitiveness.”

“As part of this strategic cooperation, Motinova will introduce Midea’s advanced mass production experience and production line automation to significantly improve production efficiency and continue to provide customers with high-quality products. At the same time, the supply chain system of Midea Group will be introduced to enhance the competitiveness of products. We will gradually realise the self-production of core components and improve the quality control system to enhance quality stability and guarantee product reliability.”

The home appliance giant Midea Group generated a turnover of €39 billion in 2021.