Continental may sell ContiTech automotive business
Continental AG's Chair, Wolfgang Reitzle, is focusing on the company's structure, aiming at the Hannover car supplier and tire maker, as insiders told Manager magazine. The emphasis will be on core operations, including the profitable tire division and non-automotive ContiTech Plastics business. The initial step involves selling ContiTech's auto components segment.
Allegedly, Continental plans to restructure ContiTech's six divisions into three regional ones, with the auto business forming a dedicated EV division. This restructuring should finish in two years, possibly as part of a broader corporate overhaul. Currently, the belt and sealing systems part within ContiTech's auto division, generating over 2 billion euros annually, is under review for potential sale, spin-off, or merger. The tire business and non-automotive ContiTech sectors will remain crucial for the company's future.
Vitesco Technology signed a strategic cooperation agreement with Baosteel
Vitesco Technology and Baosteel Co., Ltd. have recently signed a strategic cooperation framework at Vitesco Technology's China headquarters. Their collaboration will focus on high-grade non-oriented silicon steel, used for motor stator and rotor laminations. This material's high magnetic induction and low iron loss properties enhance motor efficiency and stability. They'll jointly develop new materials, designs, and expand silicon steel use in the automotive sector. This partnership, rooted in domestic business, aims to foster international collaboration and drive new product implementation.
The technology's applications include electric drive and thermal management systems. The advanced attributes of these innovations, both electromagnetic and mechanical, promise superior performance, bolstering the company's ability to provide enhanced electrification solutions.
Dürr and Mercedes-Benz reached a strategic partnership
Dürr Group and Mercedes-Benz have partnered for zero-carbon coating technology. This aims to revolutionize sustainability by achieving carbon-neutral auto spray painting. If all goes well, Dürr's latest tech will equip Mercedes-Benz's Sindelfingen paint shop in Germany. More projects are expected from this collaboration.
This kickstarts a decade-long partnership. It entails modernizing painting tech in German factories, starting with a sustainable Sindelfingen paint shop. Dürr might receive a project order from Mercedes-Benz next year, with potential for more orders in the future.
