Schaeffler Group (China) Business Report FY ended Dec. 2021
Results |
(EUR million) |
| FY ended Dec. 31, 2021 | FY ended Dec. 31, 2020 | Percentage change (%) |
Factors | |
| Sales | 3,294 | 2,941 | 12.0 | -Sales increased due to market demand recovery from COVID-19. |
Production start
-Schaeffler started of production of 2in1 electric axles at its production plant in Taicang, China. The electric axle system comprises an electric motor and transmission. The 2in1 electric axle integrates the reduction transmission and the electric motor into one compact unit. With an outstanding torque density of the transmission, this electric axle is characterized above all by compactness, high power density, high level of system efficiency, and superior acoustic behaviour. With a modular design, it can satisfy different usage requirements and can be used for various vehicle platforms. The first Chinese car model equipped with this product will be launched in the near future. Following its market launch in China, the Schaeffler 2in1 electric axle will also be used by a European automotive manufacturer. (From a press release dated July 13, 2021)
-Schaeffler Nanjing Plant No. 4 was officially opened, with a total investment of CNY 1.2 billion, focusing on serving the wind power industry. The factory mainly produces wind power spindle bearings, heavy industry bearings and gearbox bearings with a diameter of more than 800mm. (From a press release on June 24, 2021)
Exhibition at the Shanghai Motor Show
-Schaeffler has announced that it will be exhibiting components and system solutions for sustainable mobility at the Shanghai Motor Show. The Company will present a range of electrification solutions from 20 to 300 kW, including electric motors for hybrid modules, hybrid transmissions, and electric axle drive systems based on a modularized, advanced, integrated, technology platform. For the first time in China, the Company will also display an emission-free vehicle for driving in large cities, which has a rolling chassis with drive system and chassis components in a space-saving compact assembly called the Schaeffler Intelligent Corner Module. Schaeffler is making significant headway in developing hydrogen technology by using innovative components and systems for fuel cells and electrolyzers. Also, it will be exhibiting metal bipolar plates for fuel cell stacks manufactured using precision forming and thin-layer, coating technology. This is in connection with a strategic cooperation agreement with Refire, a leading supplier of hydrogen-fuel-cell technology in China, to be signed at the Shanghai Motor Show. (From a press release dated April 19, 2021)
Corporate strategy
Roadmap 2025
-Schaeffler presented its Roadmap 2025 on Capital Market Day 2020. The roadmap contains three pillars: strategy, implementation, and medium-term targets. The key trends for the future of the Schaeffler Group are sustainability, climate change, new mobility, powertrain electrification, automated production, big-data economy, digitalization, and demographic change. In the area of hydrogen technology, the roadmap also foresees significant growth potential in fuel cells for mobile applications and electrolyzers for producing hydrogen. In addition, carbon-neutral production is targeted for 2030 onwards. The medium-term target for 2025 is for the Automotive Technology division to outpace global production growth in passenger cars and light commercial vehicles, and to achieve an average growth in revenue of 200-500 basis points based on constant currency. (From the press release of 18 November 2020)
Strategic Alliances
-Schaeffler announced that it has signed an investment and strategic cooperation agreement with Leadrive Technology (Shanghai) Co., Ltd. (Leadrive Technology), and the two parties will cooperate in the field of electric drive systems for new energy vehicles. According to the cooperation agreement, the two parties will cooperate in the development of electric drive axles and other products, and plan to start the mass production of the first pilot project in 2023. At the same time, Schaeffler will also invest in Leadrive Technology and participate in the company's B round of financing. (From a press release dated December 17, 2021)
-Schaeffler AG (Schaeffler) announced that it signed a strategic partnership agreement with Shanghai REFIRE Group Limited (REFIRE) during the Auto Shanghai 2021. They will work together on hydrogen fuel cells to promote the hydrogen fuel cell vehicle industry development. The agreement notes that their cooperation will focus on key technologies of strategic importance to the hydrogen fuel cell industry such as metal bipolar plates and thermal management systems. (From a press release dated April 20, 2021)
Orders
-Schaeffler has won a new order in the area of commercial vehicles. It will supply motors to a major truck OEM from 2023. The motors will be installed in battery-powered models. In addition, Schaeffler has received another order, this one for a hybrid power module, which uses the highly efficient P1 architecture that regenerates brake energy. The regenerated energy will be used to provide power for the on-board systems. The hybrid power module is scheduled to enter commercial production in 2024. (From a March 26, 2021 press release)
New products
-Schaeffler has announced that it will start commercial production of hybrid modules, hybrid drive units, and electric axle transmissions in 2021. The Company's electric motors are based on a modular, highly integrated technology platform. These electric motors for passenger cars feature technology that offers high power density and are designed to be easily assembled. The Company says it has reached another milestone by launching products for heavy commercial vehicles. From 2024, the Company will start delivering drive units consisting of two electric motors and a transmission with integrated power electronics. The drive system, with a rated output of 120 kW, offers improved fuel efficiency and sports-car-like performance. (From a January 25, 2021 press release)
-Schaeffler has demonstrated the importance of needle roller bearings for e-mobility applications. Needle roller bearings are essential to various functions used in electric transmissions. Since needle roller and cage assemblies have a cross-sectional height that corresponds only to the diameter of the needle roller, their size is minimized and that makes it easier to arrange the placement of the bearings. Furthermore, they have a higher load capacity than other bearings and are less expensive. The Company's KZK needle roller bearings (crank-pin cages) are used, for example, in e-axles with a coaxial design. (From a December 4, 2020 press release)
R&D Centers
-Schaeffler Greater China has one R&D center located in Anting, Shanghai.
-Schaeffler announced that its wheel drive business global headquarters and R&D center are operational in Shanghai. This global headquarters and R&D center will be linked to Schaeffler’s global wheel drive business network and work with the existing R&D resources and facilities of the Schaeffler Group and Group’s Greater China region to further promote the development of wheel drive products and quickly respond to market demands. (From a press release dated March 22, 2021)