DETROIT -- German supplier Schaeffler Group, known for bearings, engine components and other automotive parts, expects significant growth in its electric and hybrid powertrains business, CEO Klaus Rosenfeld said Monday at the Detroit auto show.
“Today, we have four customer projects for complex hybrid modules and components under development,” Rosenfeld said. “We also have four customer projects for e-axles under development. So you see here, we are dedicated to this trend and we’re providing the necessary resources.”
Rosenfeld said Schaeffler has invested more than 500 million euros ($546.1 million) in e-mobility and expects that number to double in the next five years.
“We all know that consumer behavior is different in different markets. We all understand that the oil price has a certain impact but we from Schaeffler are convinced that this eco-friendly drive trend is a long-lasting trend that we have to adjust for,” Rosenfeld said.
“We feel very well prepared for these trends because we have, and we enjoy, a very strong and competitive core business from our key component areas: engine, transmission and chassis,” he said.
Schaeffler’s “Mobility for Tomorrow” strategy, unveiled in October 2013, includes what the company calls “eco-friendly drives” as one of the main areas of focus.
Schaeffler’s auto-show display includes a glass vehicle mock-up with about 40 of its products inside, including a hybrid module, a thermal management module and an electromechanical roll stabilizer. The stabilizer can be found in the BMW 7 series and the Bentley Bentayga.
Schaeffler ranks no. 23 on the Automotive News list of the 100 top global suppliers with worldwide parts sales to automakers of $8.9 billion in 2014.