Vitesco Technologies plans organizational changes to sharpen focus on electrification

Vitesco Technologies, a leading
international provider of innovative drive technologies and solutions
for electric mobility, intends to become even more powerful in
organizational terms. At its meeting today, the Supervisory Board
approved the company’s plans to bring together its four current
business units – Electronic Controls, Electrification Technology,
Sensing & Actuation, and Contract Manufacturing – into two
completely reorganized units: the future divisions “Powertrain
Solutions” and “Electrification Solutions”.

Through these organizational changes, which are slated to take
effect on January 1, 2023, Vitesco Technologies is aiming to further
sharpen its strategic focus on powertrain electrification, in order to
boost the effectiveness, efficiency, and flexibility of its operations in
the market for sustainable mobility technologies. The clear focus on
growth and value creation associated with the reorganization also
creates a more transparent structure, enables even better use of
resources in line with ongoing and accelerating change, and takes
account of the company’s ambitious sustainability agenda.

“Vitesco Technologies is aiming to become a global powerhouse in
the field of electrification. Recent incoming orders have endorsed
our consistent approach in this respect,” says Andreas Wolf, CEO of
Vitesco Technologies. “The planned organizational changes are a
logical next step in the context of the objectives we defined in our
DIRECTION 2030 strategy. We are convinced that the two strong
divisions we are creating through these structural changes will be
able to react faster and more efficiently to the challenges of the
marketplace. The new structures will not only provide us with the

perfect opportunity to ensure both, growth and add value, at Vitesco
Technologies, they will also help safeguard our competitiveness.”

With well over ten years of experience in the development and
manufacture of electric drive systems, the company has focused on
electromobility as early and decisively as almost no other automotive
supplier. Vitesco Technologies already set the course for a clear
electrification strategy in 2019. The stock market listing followed on
September 16, 2021, and the company was admitted to the SDAX at
the end of the year.

“The planned organizational changes are designed to let us make
targeted use of our resources and enable closer collaboration
between our experts,” says Ingo Holstein, CHRO of Vitesco
Technologies. “This is not a case of restructuring designed to reduce
the size of the workforce. On the contrary, this is all about
positioning Vitesco Technologies with its expertise and its people in
the best possible way to meet the requirements of the future.”