4, a decrease of 37.9% from the previous year. Its EBIT margin decreased from 5.3% in the previous year to 3.5%. The decrease in earnings was due to lower-than-expected sales volumes and an unfavorable product mix, which led to a reduced contribution margin that was insufficient to cover structural costs. Higher personnel expenses and price increases further impacted results, even though raw material costs declined. Other negative factors include...

Major Suppliers  Updated at: 2025/05/29

mpany's sales increased by 4.2% from EUR 4,800 million in the previous year to EUR 5,000 million. Contracts Flush glazing solution for AITO M9-The Company revealed that its flush glazing solution is featured in the AITO M9, a collaboration between Seres and Huawei. The solution’s benefits include cost efficiency, design, simple assembly, and weight reduction. Launched in Europe and Asia already, the solution is preparing to make its debut in th...

Major Suppliers  Updated at: 2025/05/29

avily affected the prior year. The adjusted operating EBIT margin also increased, driven by improved operational efficiency in the two divisions. This reflects the success of the part's restructuring and structural adjustment measures, the adjustments to the changed market conditions, and extensive cost-saving measures. Awards -The Company received several awards in 2024 as follows: 10 PPM Quality Award for the year 2023 from PACCAR Quality Cont...

Major Suppliers  Updated at: 2025/05/29

rope, Americas, Greater China, and Asia/Pacific. On a pro-forma basis for 2023, it is expected to have consolidated annual sales of around EUR 25 billion, employ around 120,000 people at over 250 locations, and have over 100 production facilities worldwide. This merger will also lead to revenue and cost synergies with an envisaged EBIT impact of EUR 600 million annually. The full synergy potential is expected to be reached for the first time in 2...

Major Suppliers  Updated at: 2025/05/29

nerated sales of around EUR 1.2 billion in China. The Company also recorded an operating loss of EUR 14 million and a net income loss of EUR 142 million for 2024. This negative result was primarily driven by declining global vehicle production volumes, worsening market conditions, and restructuring costs in all of the Company’s functional and business areas. Global vehicle production in 2024 fell by around 1 million compared to 2023 to 89.1 mil...

Major Suppliers  Updated at: 2025/05/28

. These truck tires are developed for fuel savings and lateral grip without compromising on other key performance metrics such as mileage, robustness, and retreadability. Their overall performance is bolstered by Michelin Connected Mobility, a range of connected services based on the assessment and analysis of fleet data together with personalized customer support. This helps reduce maintenance time and vehicle downtime. (From a press release dat...

Major Suppliers  Updated at: 2025/05/27

tery swap service for passenger vehicles, and the "Qiji battery swap service" for heavy-duty trucks.   -In 2024, CATL’s batteries ranked first in global battery usage from 2017 to 2024 and held a 37.9% market share in the global power battery market.  (From 2024 Annual Report) Click here for “Analysis Report: Lithium-Ion Battery" --> -Listed on Shenzhen Stock Exchange (As of December 31, 2024) Major Shareholders Shareholding Rati...

Major Suppliers  Updated at: 2025/05/19

Key Safety Systems (KSS) and Abhishek Auto Industries Ltd. of India. The company supplies products such as inflators, airbags, seatbelts and steering wheels. (From a press release on May 25, 2010) Key Safety Systems (KSS) has been recognized by Toyota Motors Europe NV/SA with Achievement Award in Cost Management. (From a press release on March 30, 2010) Key Safety Systems (KSS) has been selected by BMW Group to provide the BMW and Mini Countrym...

Major Suppliers  Updated at: 2025/05/17

ny’s third strategic area of focus is for internal combustion engines. The Company will continue to develop and provide new components and technologies to enhance the efficiency of combustion engines, including those that can run on e-fuels or other sustainable fuels. It will look to optimize its cost structures and continue its existing relationships with customers in the field. -For the fiscal year ended December 31, 2024, the Company was or...

Major Suppliers  Updated at: 2025/05/15

roduction at Lippstadt site; cutting 420 jobs by mid-2026 -The Company announced a plan to restructure its lighting production plant in Lippstadt, Germany, to strengthen its competitiveness. This decision is due to changes in the European market environment, caused by lower vehicle production, high-cost level, and changing customer and supplier structures. The plant will focus on the production of the most innovative headlamp solutions. New pro...

Major Suppliers  Updated at: 2025/05/15

nd. The NM12-Single PEMFC (proton exchange membrane fuel cells) stack module is suitable for passenger car and light commercial vehicle applications. It offers high power density, with a compact design and low weight. It uses technology that focuses on low hydrogen consumption for reduced operating costs and longer ranges. (From a press release dated March 8, 2024)Components for Renault 5 E-Tech electric-The Company’s Intelligent Exterior Syste...

Major Suppliers  Updated at: 2025/05/14

ar ended December 31, 2024, the Company had sales of EUR 4,190.7 million, a decrease of EUR 426.7 million or 9.2% from the previous year. The decrease was due to a global light vehicle production reduction of around 1.1% in the year caused by geopolitical tension, macro uncertainty, high prices and costs, and slow demand for electric vehicles. It was also driven by the negative foreign exchange effects, product life cycle, and the divestment of a...

Major Suppliers  Updated at: 2025/05/13

launches in Europe for European automakers. In China, the division’s performance was fueled by recent production start-ups in electrification for a North American automaker (with start-ups for the same customer also boosting business in North America) and several Chinese automakers. Restructuring Cost reduction measures and organizational restructuring-On February 29, 2024, the Company announced new cost reduction measures to improve operating...

Major Suppliers  Updated at: 2025/05/12

.7 million. Negative currency translation effects further decreased sales by EUR 302.5 million, or 1.1%.2) Operating Income-In the fiscal year ended December 31, 2024, the Company’s operating income decreased by 2.7% compared to the previous year to EUR 1,400.0 million. The Company’s gains from cost efficiencies implemented during the fiscal year were offset by unfavorable business and geographic mix combined with a one-off loss of EUR 47 mil...

Major Suppliers  Updated at: 2025/05/09

ments and delayed projects.4) Automotive OEM Division EBIT-EBIT for the Company’s Automotive Technologies division increased by 1.9% to EUR 215 million in the fiscal year ended December 31, 2024. While the division’s net revenue decreased during the fiscal year, the division also decreased the cost of sales, leading to a growth in gross profit. This growth in profit was partially offset increased research and development expenses, increased ...

Major Suppliers  Updated at: 2025/05/09

s automotive business, which represents 12.6%. As announced at the last Capital Markets Day, the Company aims to see the double-digit-margin in this region by 2026.-The Phoenix plan has four key levers: operational improvement with a two-level intervention restructuring plan affecting 6 facilities, cost savings, attracting the best talent, and commercial lever that ensures profitable growth in the region.-The plan will have an extraordinary impac...

Major Suppliers  Updated at: 2025/05/08

2) Operating Income-For the fiscal year ended December 31, 2024, the Company’s operating income increased by 41.9% over the previous year to USD 979 million. The increase was mainly driven by reduced capacity alignment accruals, lower R&D expenses, and higher gross profit, which was due to lower costs for labor, premium freight and waste and scrap, as well as decreased material costs. However, the growth was offset by lower sales and the incre...

Major Suppliers  Updated at: 2025/05/07

rom 2022 by 16.5% to a record-high USD 69.2 billion (JPY 10 trillion) on a sales basis Market share: Renesas Electronics Corporation (7%) The top five companies commanded about 50% of the automotive semiconductor market Detailed news Acquisition [USA] Completed acquisition of Altium Acquisition cost: approximately AUD 9.1 billion Purpose: To build a foundation for constructing an Electronics system design and lifecycle management platform. Th...

Major Suppliers  Updated at: 2025/05/07

ness unit in Asia Pacific   Engineering Centers Company name Year established Location Business scope ZF Engineering Center Shanghai (ECS) 2005 Shanghai -Product design, electronics with assisted driving and various automotive control units and electronics, simulation, material testing and analysis, measurement technology, vibration and noise analysis, bench testing in the field of powertrain and chassis technology. ZF Anting Technical...

Major Suppliers  Updated at: 2025/05/07

ating income fell 2.3% YoY to JPY 125.8 billion. This was a decrease of JPY 2.9 billion from the JPY 128.8 billion in the previous year.-Although prices of raw materials and fuel materials declined, the business was affected by lower shipments of automotive glass, mainly in Japan, and deteriorating costs in Automotive, Life Science, and other sectors. 3) Profit before tax-Pre-tax loss was JPY 50.1 billion. The previous year's pre-tax income was J...

Major Suppliers  Updated at: 2025/05/07