Canvas Category OEM : Automotive

Website | LinkedIn | Video

Primary Location Herzogenaurach, Germany

Financial Status ETR: SHA

The Schaeffler Group has been driving forward groundbreaking inventions and developments in the field of motion technology for over 75 years. With innovative technologies, products, and services for electric mobility, CO₂-efficient drives, chassis solutions, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion more efficient, intelligent, and sustainable – over the entire life cycle. The motion technology company manufactures high-precision components and systems for drive train and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The Schaeffler Group generated sales of EUR 15.8 billion in 2022. With around 84,000 employees, the Schaeffler Group is one of the world’s largest family-owned companies. With more than 1,250 patent applications in 2022, Schaeffler is Germany’s fourth most innovative company according to the DPMA (German Patent and Trademark Office).

Assembly Line

Schaeffler AG and Vitesco Technologies Group AG Sign Business Combination Agreement

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Schaeffler, Vitesco Technologies

By joining forces, Schaeffler and Vitesco will be able to complete and broaden their business and technology portfolios along four focused “pure-play” divisions with leading positions in their respective end markets. The combined company will offer a complete range of products, particularly in the area of electrification, to leverage the accelerated growth potential of e-mobility.

Read more at Schaeffler Press

AI for industry: Schaeffler and Siemens bring Industrial Copilot to shopfloor

📅 Date:

🔖 Topics: Partnership, Large Language Model, Programmable Logic Controller

🏢 Organizations: Schaeffler, Siemens

To support engineers with various automation tasks, the AI-powered assistant is connected to Siemens’ engineering framework Totally Integrated Automation (TIA) Portal via the open API TIA Portal Openness. The Industrial Copilot helps Schaeffler’s automation engineers to generate code faster for programmable logic controllers (PLC), the devices that control most machines throughout the world’s factories. Engineering teams can significantly reduce time, effort, and the probability of errors by generating PLC code through natural language inputs.

Siemens Industrial Copilot has access to all relevant documentation, guidelines and manuals to assist shopfloor workers with identifying possible errors. These capabilities enable maintenance teams to identify errors and generate step-by-step solutions more quickly. This will help to significantly reduce machine downtime, make industrial companies more efficient and thus support sustainability efforts.

Read more at Siemens Press

Vitesco shares hit all-time high on $3.8 billion Schaeffler deal

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Vitesco, Schaeffler

Vitesco (VTSCn.DE) shares reached a record high on Monday on news that family-controlled Schaeffler AG (SHA_p.DE) will launch a tender offer valuing the German powertrain supplier at 3.64 billion euros ($3.83 billion). Schaeffler aims to eventually merge the two groups to create a more competitive supplier in the electric vehicle segment, as well as simplifying the Schaeffler family’s empire, which includes stakes in Vitesco and Continental AG.

Read more at Reuters

H2 Green Steel completes €260 million equity financing to build world's first large scale green steel plant

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: H2 Green Steel, AMF, GIC, Schaeffler

H2 Green Steel announced today that it has secured €260 million in series B equity funding. The final close of the private placement adds €70 million in new investments from investors such as Hitachi Energy, Kobe Steel and Kinnevik. The private placement round that was co-led by AMF, GIC and Schaeffler, alongside existing investor Altor, reaches €260 million in its final close. In addition to already communicated investments by Hitachi Energy and Kobe Steel, the close of the round adds new shareholders Swedish investment company Kinnevik, and a climate-focused institutional investment fund.

The series B equity proceeds will primarily be used to develop the company’s large scale green steel plant in northern Sweden, where H2 Green Steel will produce steel with up to 95 percent lower emissions than traditional steelmaking.

Read more at PR Newswire