Vitesco Technologies Group AG
- WKN: VTSC01
- ISIN: DE000VTSC017
- Land: Deutschland
Nachricht vom 10.01.2022 | 08:30
Vitesco Technologies Group AG: Vitesco Technologies Wins Billion Euro Order to Supply High Voltage Inverters to Major North American Automaker
DGAP-News: Vitesco Technologies Group AG
/ Key word(s): Incoming Orders
Vitesco Technologies Wins Billion Euro Order to Supply High Voltage Inverters to Major North American Automaker
- Expansion of global production: Manufacturing of the 800-volt inverter also in North America
- Award drives key technology for electrification in North America
- Incoming orders: New orders worth more than 2 billion euros in electrification segment alone in the 4th quarter 2021
"Vitesco Technologies was among the first automotive suppliers to focus so firmly on electric mobility. The most recent incoming orders endorse this consistent approach. We are pursuing a clear-cut plan that will drive forward our mission to deliver clean, zero-emission mobility," says Andreas Wolf, CEO of Vitesco Technologies.
In the final quarter of 2021 alone, incoming orders for electrification components totaled more than 2 billion euros. Along with the major order from North America, Vitesco Technologies also received orders from one Chinese and one Japanese automaker - each valued at several hundred million euros. These orders for battery electric vehicle technology, are specifically for high-voltage axle drives that are manufactured and supplied as complete systems, as well as the necessary high-voltage power electronics.
Efficient electrified key technologies for large-scale production
For Vitesco Technologies, these welcome new orders go to show that its extensive experience with electric drive components and its vast systems expertise give the company a decisive competitive edge. Vitesco Technologies brings its innovations to market fast, so that automakers across the globe can offer electric mobility solutions that are as efficient as they are affordable.
"With our portfolio, we are fully focused on global, scalable platforms for electrified vehicles. This is where the growth is happening and it's also where there is real potential for the sustainable and increasingly carbon-neutral mobility of the future," says Thomas Stierle, Member of the Executive Board and head of the Electrification Technology business unit at Vitesco Technologies. "The latest orders clearly prove the point. The electrification of automotive drive systems is progressing faster than ever - and Vitesco Technologies is among the prime movers and beneficiaries of this global trend".
Vitesco Technologies is a leading international developer and manufacturer of state-of-the-art powertrain technologies for sustainable mobility. With smart system solutions and components for electric, hybrid and internal combustion drivetrains, Vitesco Technologies makes mobility clean, efficient, and affordable. The product range includes electrified drivetrain systems, electronic control units, sensors and actuators, and exhaust-gas aftertreatment solutions. In 2020, Vitesco Technologies recorded sales of €8 billion and employs more than 40,000 employees at about 50 locations worldwide. Vitesco Technologies is headquartered in Regensburg, Germany.
Contact for Journalists
|Company:||Vitesco Technologies Group AG|
|Phone:||+49 941 2031 0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1266192|
|End of News||DGAP News Service|
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