Siemens is combining its low- to high-voltage motors, geared motors, medium-voltage converters, and motor spindles business activities into a new, leading motors and large drives company called Innomotics. The new company’s portfolio includes digitalization solutions and a broad range of service offerings. The related businesses, whose spinoffs were announced in November 2022, were previously assigned to the Large Drives Applications and Digital Industries business units and to the legally separate Siemens companies Sykatec and Weiss Spindeltechnologie.
Effective July 1, 2023, Innomotics will operate in Nuremberg, Germany as a legally separate, wholly owned subsidiary of Siemens AG. The global carve-out is on track to be largely completed by October 1, 2023. The new company employs approximately 14,000 employees worldwide and will have revenues of approximately €3 billion.
The name Innomotics is intended to combine the company’s promise of innovative power with the experience and reliability of 150 years in motor manufacturing. In the future, Innomotics will continue to collaborate closely with other Siemens businesses through partnerships in the areas of technology, sales, and trade relationships.