Vitesco, which was spun off from Continental two years ago, is valued at 3.64 billion euros. Schaeffler has since held just under 50 percent of the supplier of drive technology for electric vehicles. With the takeover, the Franconian family-owned corporation wants to create a specialist for e-mobility, which has struggled with the change so far. The companies have a complementary technology portfolio, it says.
- 10/19/2023
- Report
- Transformation of the drives
Schaeffler wants to take over drive expert Vitesco
Schaeffler wants to take over the drive specialist Vitesco in a three-stage transaction. To do so, the automotive supplier is acquiring a majority stake in Vitesco. Schaeffler intends to create a "leading motion technology company" and take advantage of the "accelerated growth of electromobility".
