# Siemens to spin off motors and drives business as Innomotics

Siemens AG is setting up a new wholly owned subsidiary called Innomotics to contain its low-voltage to high-voltage motors, geared motors, medium-voltage converters and motorized spindles. The new company will be established in Germany by July 1, 2023, with global organization by October 1.

- Type: Leadership
- Announced: 2023-03-01
- Where: Germany
- Jobs: 14,000
- Status: announced
- Products: low-voltage motors, high-voltage motors, geared motors, medium-voltage converters, motorized spindles
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Siemens](https://endata.com/companies/301.md)

## Sources

- [americanmachinist.com](https://www.americanmachinist.com/news/article/21261076/motors-and-drives-businesses-spin-scheduled-siemens-ag), 2023-03-01: "Siemens AG is setting up a new business to contain its current motors and drives business, covering low-voltage to high-voltage motors, geared motors, medium-voltage converters and motorized spindles."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.