Vitesco Technologies’ growth to be driven by e-mobility
Vitesco Technologies, Continental’s Powertrain business area, has reached the next milestone on its path to a spin-off from Continental Group, towards a listing and subsequent independence. Following approval of the spin-off by Continental AG’s supervisory board on March 16, 2021, Vitesco Technologies presented its strategy last week.
A leading international supplier of modern powertrain technologies and electrification solutions, Vitesco Technologies is determined to become a global electrification powerhouse. The spin-off and subsequent listing are planned for the second half of 2021. The shareholders’ approval at Continental’s Annual General Meeting on April 29, 2021, is the next important step in this process.
“In 2019, we already set our course, and are fully committed to a path, toward e-mobility. We used 2020 to drive the transformation forward, fast and focused. Now we are ready for the biggest step in our company’s history,” said Andreas Wolf, CEO of Vitesco Technologies.
Electrification: from vision to mass market
Driven by increasingly ambitious environmental standards, societal changes and rising customer demand, global automakers are electrifying their model ranges and building a broad offering that spans mild hybrids, plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs). This trend has been visible even throughout the ongoing Covid-19 pandemic. In 2020, registrations of new electric passenger vehicles (BEVs and PHEVs) in Europe increased by 144% compared to 2019. Experts expect that electrified vehicles might account for around 60% of the total light vehicle production by 2030.
“The market that we are addressing with our e-mobility solutions is expected to grow very dynamically at rates of around 30% per year between 2020 and 2025. As we offer innovative solutions for all electrified drive systems, we are set to benefit extraordinarily from this development,” said Andreas Wolf.
Vitesco Technologies, based in Regensburg, Germany, has three business units: Electrification Technology, Electronic Controls and Sensing & Actuation. All three business units already contribute to electrification sales. Electrification Technology develops and produces electric motors, integrated axle drives, power electronics, battery management systems and 48-volt systems. The portfolio of Electronic Controls includes integrated electronics architectures and software and covers control units for electric, hybrid and combustion drive as well as integrated high voltage boxes. Sensing & Actuation offers customers intelligent solutions for precise measurement and control, e.g., in the area of thermal and energy management.
