Eaton has announced the launch of a new eMobility business to meet the demand of a global vehicle electrification market that is estimated to grow to 15 million pure battery-electric vehicles and another 30 million hybrids by 2030.
The company said it plans to invest over $500 million over the next five years to develop high-voltage, electrified vehicle technologies, such as new intelligent power electronics, power systems, advanced power distribution and circuit protection.
Eaton projected that its current electrified portfolio will account for approximately $300 million in revenue this year, with revenues of $2-$4 billion by 2030.
Eaton officials said its power distribution and protection category includes fuses, super-capacitors and power distribution units, while converters and on-board chargers fall under its power electronics umbrella. Power systems include electric vehicle transmissions for many medium- and heavy-duty applications, as well as a 48-volt regenerative accessory drive system for heavy-duty trucks.
Eaton said eMobility, which is headquartered in Southfield, Michigan, was formed by combining products and global manufacturing capabilities from its electrical and vehicle business. The company has over 15 years of experience in developing hybrid systems, with more than 15,000 hybrid-electric vehicles and plug-in hybrid electric vehicles on the road worldwide. Eaton also has high-voltage, fast-acting fuses in nearly 50 percent of global electrified cars, and power electronics in a leading European battery-electric vehicle platform.
“Our understanding of the unique needs of vehicle customers, along with our experience in transmissions and power electronics in the hybrid space, gives us a distinct advantage versus other suppliers,” said Jeff Lowinger, president of eMobility. “Customers using Eaton hybrid systems have collectively accumulated an estimated 2 billion miles of clean, reliable service.”