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Schaeffler receives award for its innovative strength and strategic orientation

Thursday, July 13, 2017 - 07:00
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The automotive industry is changing and Schaeffler is playing its part in shaping this change with its innovative products. In the coming decades, various vehicle concepts will complement each other and make important contributions to ensure energy-efficient and environmentally-friendly mobility. 

For decades, Schaeffler has fostered a strong partnership with Volkswagen and many projects in the areas of engine, transmission and chassis systems have been realized thanks to this close collaborative partnership. Together, both companies are facing the challenge of increasingly complex technologies and faster innovation cycles. As a leading technology partner, Schaeffler began carrying out basic research into hybridization and electric mobility years ago and now has an accordingly extensive product range with comprehensive system solutions. The range extends from 48-volt hybrid modules through to powerful high-voltage drive concepts, such as electric drive axles.

Alfonso Sancha Garcia, Director of Group Procurement Powertrain at Volkswagen AG (2nd from left), personally presented Schaeffler with the FAST member award to Michael Vetter, Global Key Account Manager Volkswagen at Schaeffler, Matthias Zink, CEO Automotive of Schaeffler AG, and Prof. Peter Gutzmer, Deputy CEO and Chief Technology Officer of Schaeffler AG (front left).

The initiative Future Automotive Supply Tracks (FAST) creates a framework to ensure that, together, these requirements are met. Volkswagen uses this initiative to ensure its most important suppliers are involved in a strategic dialog at an early stage. This means that common fields of activity can be identified and innovations can be customized and implemented efficiently and quickly. Schaeffler is one of only 60 partners involved in the FAST program and was chosen from a pool of 4,000 suppliers. During the selection process, criteria such as strategic relevance, performance, and innovative strength play an important role.

“We are proud to be part of this select circle”, says Matthias Zink, CEO Automotive of Schaeffler AG. “This is confirmation for Schaeffler that it is optimally positioned in terms of the automotive future and increasingly complex drive architectures”. In the future, an individual comparison will be carried out at least once per year, during which Volkswagen representatives will discuss their strategies with the relevant partner in order to identify potential areas of cooperation.

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About Schaeffler

The Schaeffler Group is a globally active automotive and industrial supplier. Highest quality, outstanding technology, and strong innovative ability represent the basis for the Schaeffler Group’s lasting success. Its precision components and systems for engines, transmissions, and chassis as well as rolling and plain bearing solutions for numerous industrial applications make the Schaeffler Group a key contributor to “Mobility for tomorrow”. The technology company generated sales of approximately 13.3 billion euros in 2016. With around 86,600 employees, Schaeffler is one of the world’s largest companies in family ownership. It has a worldwide network of manufacturing locations, research and development facilities, and sales companies at approximately 170 locations in over 50 countries.

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