A New EV Powerhouse Emerges: The proposed merger of Vitesco Technologies and Schaeffler!
The proposed merger is set to create a formidable EV-focused megasupplier, poised to compete with the industry’s giants.
This merger is a strategic move toward consolidating their strengths to navigate the evolving automotive landscape.
Schaeffler CEO Klaus Rosenfeld sees an opportunity for future savings by producing more components in-house, emphasizing self-sufficiency rather than relying on external suppliers.
With an anticipated revenue growth from electric components projected to soar from 2.4 billion euros in 2022 to 10 billion euros in 2030, this partnership is perfectly timed to seize the EV market’s opportunities.
The merger isn’t just about embracing the EV era; it’s also a strategic move to manage the decline in internal-combustion engine sales, underlining the industry’s rapid transformation.
This development is a testament to the ever-evolving automotive industry, as companies adapt to meet the demands of a more sustainable future.
#AutomotiveIndustry #MergersAndAcquisitions #Sustainability
Source: https://europe.autonews.com/suppliers/schaeffler-vitesco-merger-would-create-ev-rival-zf-bosch
