Bosch Rexroth and Modine Partner On Thermal Management For Electrified Off-Highway Machinery

Rhea-AI Summary

Bosch Rexroth (NYSE: MOD) partners with Modine to advance electrification of off-highway machinery with EVantage thermal management systems

Insights

Market Research Analyst

The alliance between Bosch Rexroth and Modine signifies a strategic move towards enhancing the electric vehicle (EV) components market, particularly in the off-highway machinery segment. This partnership leverages Modine's expertise in thermal management systems with Bosch Rexroth's eLION electrification products. The collaboration aims to address the thermal management challenges associated with EV technology, which is critical for the reliability and efficiency of electric off-highway machinery.

From a market perspective, this partnership is poised to strengthen both companies' competitive positions within the EV market. The integration of Modine's thermal management solutions with Bosch Rexroth's eLION portfolio could lead to improved product offerings and potentially increase market share for both entities. As the demand for electric industrial vehicles rises, driven by environmental regulations and sustainability initiatives, the market for EV components is expected to grow significantly. This collaboration is well-timed to capitalize on the market trends and could result in increased investor confidence in both companies.

Financial Analyst

Investors should note the potential financial implications of this partnership. The collaboration between Bosch Rexroth and Modine is not just a technical advancement but also a strategic decision that could influence the financial performance of both companies. By combining their strengths, the companies may achieve cost efficiencies through shared R&D and marketing expenses, which can lead to improved profit margins. Additionally, the partnership may open up new revenue streams as the combined offering might attract customers seeking integrated solutions for electrification challenges.

Furthermore, as the market for EVs expands, particularly in the industrial sector, this partnership positions Bosch Rexroth and Modine to take advantage of economies of scale. The success of their integrated systems could lead to larger volume sales and a stronger bargaining position with suppliers, potentially enhancing their financial stability and providing a positive outlook for long-term growth.

Environmental Economist

The collaboration between Bosch Rexroth and Modine has implications beyond the immediate business context, touching upon environmental economics. By advancing the electrification of off-highway machinery, the partnership contributes to the reduction of greenhouse gas emissions, aligning with global efforts to combat climate change. The environmental benefits of such innovations could also influence public policy, potentially leading to subsidies or tax incentives for companies that adopt electric machinery, thereby indirectly benefiting the financial performance of Bosch Rexroth and Modine.

In the long run, the success of such collaborations can accelerate the transition to a low-carbon economy. The development of efficient thermal management systems is crucial for the adoption of EV technology in the industrial sector, which has traditionally been a challenging area to electrify due to the heavy-duty nature of the machinery involved. The environmental impact of these advancements could be substantial, influencing investor sentiment towards companies that are perceived as contributing positively to environmental sustainability.

Collaboration and innovation drive the transition to electric vehicles in industrial vehicles as two transportation industry leaders advance the state of the art together.

RACINE, Wis., Jan. 9, 2024 /PRNewswire/ -- As part of its industry-leading efforts to electrify critical off-highway machinery, Bosch Rexroth today announced a partnership with leading thermal management manufacturer Modine (NYSE: MOD). The two organizations are collaborating to bring Modine EVantage (™) thermal management systems to the Bosch Rexroth portfolio of eLION products for electrified off-highway machinery worldwide. Together, Rexroth eLION systems with Modine EVantage thermal management systems advance the electrification of customer platforms in the off-highway segment by delivering low emissions and high-performance EV technology.

"With the increased shift towards electrified mobile machines, there's a parallel need to manage the thermal output of those crucial components efficiently," said Zifan Liu, Bosch Rexroth Mobile Hydraulics System Engineer. "This partnership represents a collaborative effort to effectively address that issue and present end-users with the most productive machine possible."

Bosch Rexroth worked with Modine because of its specialization in complete commercial EV thermal management systems. Modine designed a fully integrated, liquid-cooled thermal management solution for the eLION portfolio. The eLION portfolio includes a permanent magnet synchronous electric motor, electric inverter, onboard charger, DC-DC converter, power distribution unit, high voltage cables with plugs, and a controller. The thermal management system from Modine works seamlessly with the eLION portfolio to maintain optimal battery temperature, efficiently cool power electronics, and ensure passenger comfort.

"Over a century ago, Modine set out to transform thermal management for the transportation sector, and today, in partnership with Bosch Rexroth, we're tracing back our roots to meet the evolving needs of electrified mobile off-highway machinery," said Gina Maria Bonini, Vice President and General Manager of Advanced Thermal Systems at Modine. "This collaboration allows us to leverage our state-of-the-art heat exchanger technology and intelligent electronic products to deliver the optimal thermal conditions for the critical battery and electronic components on which Bosch Rexroth customers rely."

About Bosch Rexroth:
As one of the world's leading suppliers of drive and control technologies, Bosch Rexroth ensures efficient, powerful and safe movement in machines and systems of any size. The company bundles global application experience in the market segments of Mobile and Industrial Applications as well as Factory Automation. With its intelligent components, customized system solutions, engineering and services, Bosch Rexroth is creating the necessary environment for fully connected applications. Bosch Rexroth offers its customers hydraulics, electric drive and control technology, gear technology and linear motion and assembly technology, including software and interfaces to the Internet of Things. With locations in over 80 countries, more than 32,000 associates generated sales revenue of around 7.0 billion euros in 2022. To learn more, please visit www.boschrexroth-us.com. 

About Modine:
At Modine, we are Engineering a Cleaner, Healthier World™. Building on more than 100 years of excellence in thermal management, we provide trusted systems and solutions that improve air quality and conserve natural resources. More than 11,000 employees are at work in every corner of the globe, delivering the solutions our customers need where they need them. Our Climate Solutions and Performance Technologies segments support our purpose by improving air quality, reducing energy and water consumption, lowering harmful emissions and enabling cleaner running vehicles and environmentally friendly refrigerants. Modine is a global company headquartered in Racine, Wisconsin (U.S.), with operations in North America, South America, Europe and Asia. For more information about Modine, visit www.modine.com. 

About Bosch:
The Bosch Group is a leading global supplier of technology and services. It employs roughly 421,000 associates worldwide (as of December 31, 2022). The company generated sales of 88.2 billion euros in 2022. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group's strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is "Invented for life." The Bosch Group comprises Robert Bosch GmbH and its roughly 470 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch's global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company's future growth is its innovative strength. At 136 locations across the globe, Bosch employs some 85,500 associates in research and development, of which nearly 44,000 are software engineers. 

MODINE CONTACT INFORMATION:
Technica Communications
Caitlan Caviness
modine@technica.inc 

BOSCH REXROTH CONTACT INFORMATION:
Mike Thompson
+1 704-430-9203
Michael.Thompson2@boschrexroth-us.com

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SOURCE Modine

FAQ

What is the partnership between Bosch Rexroth and Modine about?

The partnership aims to bring Modine EVantage thermal management systems to the Bosch Rexroth portfolio of eLION products for electrified off-highway machinery worldwide.

Why did Bosch Rexroth choose to collaborate with Modine?

Bosch Rexroth worked with Modine due to its specialization in complete commercial EV thermal management systems.

What products are included in the eLION portfolio?

The eLION portfolio includes a permanent magnet synchronous electric motor, electric inverter, onboard charger, DC-DC converter, power distribution unit, high voltage cables with plugs, and a controller.

What does Modine's thermal management system do for the eLION portfolio?

Modine's thermal management system works seamlessly with the eLION portfolio to maintain optimal battery temperature, efficiently cool power electronics, and ensure passenger comfort.

Who is Gina Maria Bonini and what is her role in the partnership?

Gina Maria Bonini is the Vice President and General Manager of Advanced Thermal Systems at Modine. She stated that the collaboration allows Modine to leverage their state-of-the-art heat exchanger technology and intelligent electronic products to deliver the optimal thermal conditions for the critical battery and electronic components for Bosch Rexroth customers.