Acquisition Of Vitesco, Increased Investment In China, Schaeffler’s Major Events In 2023

2023 is an extremely busy year for Schaeffler.

In addition to acquiring Vitesco Technology and further developing driving technology, Schaeffler will continue to increase its exposure to China throughout 2023.

From the start of the new energy vehicle core component project in Taicang at the beginning of the year, to the unveiling of the Changsha R&D center, the opening of the new R&D building of the Greater China headquarters, the signing of the contract to build a new R&D center in Nanjing, and then to the layout of Yinchuan and Taicang, we are committed to serving the local market with local resources. And it is moving forward in the direction of serving the global market with China.

A year-end inventory of key car companies and parts companies, this article will take you to review the major events that happened to Schaeffler in 2023!

\\ Another "Big Mac" is born
Schaeffler and Vitesco Technology officially sign merger agreement

On the evening of November 28, 2023, Schaeffler announced that Schaeffler Group and Vitesco Technology Group had signed a business merger agreement on November 27 to jointly create a leading technology company focusing on drive technology. The merged company It will be named Schaeffler AG and will be headquartered in Herzogenaurach.

According to a joint statement released by the two companies on the 27th, Schaeffler's acquisition bid for Vitesco Technology Group was increased to 94 euros per share, which brought the transaction value to 3.8 billion euros.

After the merger of the two companies, four major business divisions will be established to build a more complete product series, especially in the field of electrification, and fully utilize the potential of accelerated growth of the electric drive business.

\\ New output value exceeds 5 billion
Schaeffler Taicang Base Phase II Factory Opened and Phase III Factory Signed

On November 1, Schaeffler's Taicang manufacturing base new energy phase II plant was officially opened in Taicang High-tech Zone. At the same time, Schaeffler signed a new energy phase III project investment agreement with Taicang High-tech Zone, continuing to increase its new energy business and further expand its presence in the new energy industry. Hua Investment.

The new energy phase II factory opened this time is mainly engaged in the production and manufacturing of core components for new energy vehicles such as motor stators and rotors.

As an important extension of the first phase of Schaeffler's new energy plant on Suzhou Road in Taicang, after the opening of the second phase of the factory, Schaeffler will form a full range of new energy electric drive product production capabilities in Taicang, including hybrid modules, drive motors and their components. and a complete set of electric drive axles, etc., laying a solid foundation for the subsequent growth of Schaeffler's new energy business in China.

Data show that the third phase of the new energy project covers an area of about 70,000 square meters, with an investment of 200 million euros (approximately 1.5 billion yuan). The third phase project focuses on the field of new energy electric drive, covering such as in-wheel motors, electric axle reduction boxes, hybrid The production and manufacturing of new energy vehicle products such as automatic transmissions are mainly supplied to internationally renowned automobile companies for supporting use.

After the second and third phases of the new energy project reach production, Schaeffler's new output value will exceed 5 billion yuan.

\\ Continue to increase local research and development
Schaeffler's new R&D building in Greater China officially opened

On August 29, the new R&D building of Schaeffler's Greater China headquarters was officially opened in Anting, Shanghai. This is another new upgrade after the Anting R&D center was opened in 2007 and expanded in 2014. It will also further strengthen the building. Fleur's local R&D and innovation capabilities in China.

According to the data, the new R&D building is located in the Automobile Innovation Port opposite the original Anting R&D Center, with a total construction area of approximately 12,000 square meters, including R&D testing and office areas. With the opening of the new building, the total area of Schaeffler's Greater China headquarters and R&D center has increased to approximately 50,000 square meters.

Specifically, the first floor is a testing area, including multiple laboratories and testing areas, equipped with advanced test benches and experimental equipment, focusing on future-oriented hydrogen energy technology, new energy vehicle electric drive and chassis innovative products, and Technical research and application testing of products in industrial bearings, robots, Industry 4.0 and other related fields.

It is worth noting that the new building houses Schaeffler's first innovation center in China, focusing on the incubation and industrial application of innovative projects, including innovation laboratories, workshops and activity areas, shared work spaces, etc.

\\ Plans to invest 500 million yuan in Yinchuan factory in the next five years
Schaeffler accelerates local manufacturing of high-end bearings

On June 16, official news from Schaeffler showed that in order to meet the growing demand of the market, Schaeffler is accelerating the expansion of local production capacity of high-end bearings and plans to invest a total of 500 million yuan in the Yinchuan factory in the next five years to build an automobile-oriented factory. and supporting facilities and equipment such as high-end bearing production lines, intelligent testing equipment, and automatic logistics for industrial applications.

At the same time, the Yinchuan factory will also focus on Industry 4.0 and smart manufacturing, comprehensively improve the level of factory automation, digitalization and intelligence, and achieve a comprehensive upgrade to a smart factory.

\\ Schaeffler's second R&D center in Greater China was officially unveiled

On May 18, Schaeffler officially announced that its second R&D center in Greater China, located in Changsha Xiangjiang Intelligent Network Industrial Park, was officially unveiled.

Schaeffler Changsha R&D Center will rely on Schaeffler Group's global R&D network and technical expertise to work closely with Anting R&D Center to carry out future-oriented technology research and product application development in the fields of electric drive, intelligent driving and other fields.

\\ Schaeffler signed a contract with Nanjing Jiangning High-tech Zone
Intention to establish an R&D institution in Nanjing

According to official news from Schaeffler, in April, in Herzogenaurach, Germany, where the Schaeffler Group is headquartered, Schaeffler and the Nanjing Jiangning High-tech Industrial Development Zone Management Committee signed an understanding to further strengthen cooperation in production and research and development. memorandum.

According to the memorandum, Schaeffler will further improve its overall layout in Nanjing, accelerate business development, and continue to increase local investment in large-size bearings for wind power and robot-related products. In addition, Schaeffler intends to establish a research and development institution in Nanjing to carry out research and development of advanced technologies and products related to renewable energy, such as wind power, photovoltaics, hydrogen energy storage and robots.

\\ Schaeffler new energy vehicle core component project starts

According to the latest news released by Taicang, on January 31, the 2023 Taicang High-tech Zone "Project Breakthrough Day" key project opening event was held. The reporter noticed that it covers Schaeffler's core component projects for new energy vehicles.

With the opening ceremony, Schaeffler's new energy vehicle core component project officially started.

It is reported that the project has a total investment of US$300 million and is mainly engaged in the research and development, production and sales of new energy vehicle drive components. It is an effort by the Schaeffler Group to comply with the trend of vehicle electrification and maintain the group's technology and market leadership in Greater China. An important project established to serve the development of China's new energy automobile industry.

After the project reaches full production, Schaeffler's annual output value and tax revenue will be doubled.

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