Schaeffler Group (China) Business Report FY ended Dec. 2022
Results |
(EUR million) |
| FY ended Dec. 31, 2022 | FY ended Dec. 31, 2021 | Percentage change (%) |
Factors | |
| Sales | 3,609 | 3,294 | 9.6 | -Sales increased due to market demand recovery after COVID-19. |
Plant construction
-Schaeffler announced the groundbreaking ceremony of a New Energy Vehicle (NEV) core parts project in Taicang, Jiangsu. The project has a total investment amount of USD 300 million and will mainly be engaged in the R&D, manufacturing and sales of drive parts for NEVs. (From a Taicang press release dated January 31, 2023)
Strategic alliances
-Schaeffler signed a strategic cooperation agreement with CITIC Pacific Special Steel Group Co., Ltd. (CITIC Steel). The companies will work closely in such fields as sustainable supply chains, new products and technologies, and digital interconnection. According to the agreement, the two parties will strengthen their cooperation in sustainable development and work to accelerate Schaeffler’s achievement of its carbon neutrality goals through procurement of carbon neutral steel products. Schaeffler aims to achieve climate neutrality in the supply chain by 2040 and in manufacturing by 2030, when it expects to cut the CO2 emissions from intermediate products and raw materials in the supply chain by 25%. Additionally, the companies will also jointly develop new bearing steels that improve material properties and bearing fatigue resistance to meet the requirements for lighter weight, higher strength, higher stability, and longer life bearings. (From a press release dated September 1, 2022)
R&D Centers
-Schaeffler Greater China has 2 R&D centers located in Anting, Shanghai and Changsha, Hunan.
| Anting, Shanghai | The global headquarters and R&D center of the company's wheel hub drive business were opened in Shanghai. It is reported that the global headquarters and R&D center of the wheel hub drive business put into use this time will be linked with the global business network of Schaeffler wheel hub drives, providing development, rapid response to market demand. (From Schaeffler official website news on March 22, 2021) |
| Changsha, Hunan | Schaeffler invested in the construction of "Schaeffler Intelligent Driving Technology (Changsha) Co., Ltd." in Changsha in 2019. The Changsha R&D Center will introduce the Space Drive remote control technology applied to intelligent driving, the intelligent corner module (i-Corner), and other chassis-related products and technologies to the Chinese market. |