Vitesco has acquired an order price round 2 billion euros ($2.20 billion) to provide a element for electrical autos (EVs), Chief Government Andreas Wolf mentioned on Friday, with out naming the shopper.
Vitesco, which has forecast an increase in gross sales to no less than 8.6 billion euros in 2022 from 8.3 billion final yr, is within the means of increase its portfolio in electrical automotive components, with the view of winding down manufacturing of components for inner combustion engine vehicles by 2028 to 2029.
The powertrain provider acquired orders price round 5.1 billion euros for parts regarding EVs final yr and mentioned in January it had acquired a one-billion-euro order from a U.S. producer.
Talking after Vitesco’s annual outcomes convention, Wolf mentioned that the faster-than-expected uptake in EVs might imply that the corporate’s transition away from inner combustion engine expertise might occur sooner than deliberate however no earlier than the second half of the last decade.
($1 = 0.9088 euros)
