Schaeffler has announced at the recently concluded Detroit Auto Show that it anticipates huge growth in its electric and hybrid powertrains business.
Speaking at the show, CEO Klaus Rosenfeld said that they have four customer projects for complex hybrid modules and components under development. “We also have four customer projects for e-axles under development. So you see here, we are dedicated to this trend and we’re providing the necessary resources.”
The CEO revealed that Schaeffler has invested over 50 million euros in ($546.1 million) and anticipates that number to double in the next five years. He noted that consumer behavior is different in different markets, adding that they understand the oil price has a certain impact but they from Schaeffler believe that this environment-friendly drive trend is something long-lasting that they have to adjust for.
“We feel very well prepared for these trends because we have, and we enjoy, a very strong and competitive core business from our key component areas: engine, transmission and chassis.”
The “Mobility for Tomorrow” strategy, which was unveiled by Schaeffler in October 2013, includes what the company calls “eco-friendly drives” as one of the key areas of focus.
The company’s auto-show display comprises a glass vehicle mock-up with around 40 of its products inside, including a hybrid module, an electromechanical roll stabilizer and a thermal management module. The stabilizer is featured in the Bentley Bentayga and BMW 7.
Hamid Moaref has always been fascinated by cars and the automotive industry. His family has a longstanding association with the industry and has been in the tire business for the past 35 years. Raised in Dubai, Hamid attended Capilano University in Vancouver where he graduated with a BBA in marketing before attending an intensive course in magazine publishing in 2005. He has been the publisher and chief editor of Tires & Parts magazine for the past ten years.
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