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Reviews Vitesco relies on the separation of Conti on Electric Mobility

13:50  25 march  2021
13:50  25 march  2021 Source:   de.reuters.com

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Munich (Reuters) - Vitesco wants to expand the business with electromobility after the separation of Continental.

Continental's pilot location for industry 4.0 applications in Regensburg © Reuters / Michael Dalder Continental's Pilot Location for Industry 4.0 Applications in Regensburg

In the medium term, more than 30 percent of revenues in the core business are achieved with electrification, the company announced on Thursday. The growth is financed from the ongoing shops, said Vitesco boss Andreas Wolf. Currently the division with electrification technology is still deficient. In the medium term, however, the aim is to generate profits in this business. Wolf said that this goal should be reached 2024.

2020 VITESCO revised revenues of almost eight billion euros and thus a billion euros less than before year. The loss of operation was 324 million euros, but in 2019 he was even greater with 635 million euros.

GM amping up EV and autonomous vehicle development to $35B through 2025 .
General Motors is accelerating investments in EVs and AVs, and has announced two more Ultium battery plans in North America."GM is also announcing two new Ultium battery cell plants in the US, in addition to our plants that are already under construction in Ohio and Tennessee," GM's CEO Mary Barra said in a statement on LinkedIn. The automaker did not disclose where those plants will be located.

usr: 1
This is interesting!