Latest news with #KlausRosenfeld
India.com
2 days ago
- Automotive
- India.com
This company to invest Rs 48000000000 in India, new plant to be built in..., company is....
This company to invest Rs 48000000000 in India, new plant to be built in..., company is.... German automotive and industrial supplier company Schaeffler AG will invest 500 million euros (about Rs 4,800 crore) in India in the next five years. The reason for this is the country's rapidly growing domestic market. Talking to the media, Schaeffler AG's Global CEO Klaus Rosenfeld said that this investment will focus on expanding production capacity, increasing localization and strengthening the company's presence in electric mobility, railways and renewable energy components. Along with this, the company inaugurated a new manufacturing plant in Shulagiri, Tamil Nadu, which focuses on powertrain, chassis components and advanced technology. The company also operates several manufacturing plants along with research and development (R&D) centers in the country. Investment of Rs 1700 crore in last 3 years In the last three years, the company has invested Rs 1,700 crore to enhance local capabilities. Currently, Schaeffler's Indian business has a revenue of over 1 billion euros. Rosenfeld further said that India offers a particularly favorable environment for growth compared to other global markets. The company operates in 4 main areas 'This is a favorable environment for us, where we feel we can do a lot more,' he said. Globally, Schaeffler operates in four main regions, including the US, Europe, Greater China and Asia Pacific. The Asia Pacific region is managed by the company from Singapore, which has been chosen for its connectivity and ability to effectively connect different markets. However, he stressed that the real place to grow in the region is India. Concerns about purchasing an EV! Rosenfeld did not express any concern over the slow rate of adoption of electric vehicles. He believes that whether electrification is slow or fast, customers will continue to buy vehicles. According to Schaeffler's estimate, by 2030, ICE vehicles will have a 30 percent market share globally, and hybrid and battery vehicles will have a market share of about 35 percent.
Time of India
2 days ago
- Automotive
- Time of India
India is a reliable partner for us amid global challenges, says Schaeffler CEO
The German global automotive and industrial supplier has committed to investing €100 million annually in India over the next five years, while also exploring the prospect of establishing a GCC in the country. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads PUNE: As the geopolitical landscape evolves, marked by tariff tantrums, economic uncertainty, and supply chain disruptions, Germany-based global automotive and industrial supplier, Schaeffler AG , sees India as a reliable partner with significant growth potential worthy of investment. The company has earmarked €100 million (₹900 crore approx, assuming €1 = ₹90) annually for investment in India over the next five years.'In this geopolitical environment with all the tensions and stress in supply chains, with questions of who you are, and who you are going to be friends with, you need to be careful. I think our relationship with India has proven to be strong. We have always seen reliable partners here,' Klaus Rosenfeld , Global CEO of Schaeffler AG, said at a media roundtable held during his week-long visit to Wednesday, the company inaugurated a new manufacturing plant in Shoolagiri, Tamil Nadu, focused on powertrain, chassis components, and advanced technologies. It also operates plants in Pune, Vadodara, and Hosur, along with three R&D centres. Over the last three years, ₹1,700 crore has been invested to enhance local capabilities. Currently, Schaeffler's business in India generates more than €1 billion in further noted that the growth observed in India, along with government initiatives in infrastructure development, digitalisation, and investment in AI, all point in the right direction. Compared to other global markets, India offers a particularly conducive environment for growth. 'This is a friendly environment for us, where we feel that we can do much more,' he Schaeffler operates across four main regions: the Americas, Europe, Greater China, and Asia Pacific--a region which is managed from Singapore, chosen for its connectivity and ability to effectively link this diverse and heterogeneous market. However, he emphasised that 'the real place to be' in the region is the India-UK Free Trade Agreement as an example, he suggested it could serve as a model for the European Union (EU), adding that he hopes that the EU will 'get its act together' to establish a similarly cooperative relationship. While acknowledging the challenges involved, he emphasised the importance of fostering a friendly and reliable partnership based on win-win the slower pace of EV adoption does not appear to be a major concern for Rosenfeld. He believes whether electrification happens faster or slower, customers will continue to purchase vehicles– whether they are electrified or internal combustion engine (ICE) cars. This diversity in demand serves as a hedge for consistent also identified electric two-wheelers as key to India's mobility future. Less common in Germany but essential in India, this segment will see focused investment from the is projecting a global automotive landscape in 2030 where ICE vehicles will account for approximately 30 per cent of the market, with hybrid vehicles and battery electric vehicles (BEVs) each making up around 35 per cent. Regional variations will apply as China, for instance, is already ahead of this curve, with BEV adoption significantly higher than the global hedge against bad times is vehicle lifetime solutions-- services such as repair and maintenance--as they generate consistent revenue, providing stability during economic downturns. 'In bad times, people don't buy cars. They repair cars," he strategy is reinforced by its 2023 acquisition of KRSV Innovative Auto (Koovers), a Bengaluru-based B2B e-commerce platform providing spare parts solutions to India's aftermarket the CEO envisions Schaeffler being recognised as a Motion Technology company and moving beyond the traditional label of an automotive supplier, which he sees as only half the story. "When you consider our core technologies and the breadth of our product portfolio, it's all about motion," he global trade tariffs, Rosenfeld noted that we are moving into a multipolar world with the old idea of free trade being clearly challenged. 'For Europe, this is something of a wake-up call. It is ultimately about competitiveness,' he on the shifting dynamics with China, he added, 'For a long time, Europe and particularly German manufacturers viewed China as a workbench. That perspective has completely changed and the landscape is shifting for global companies like ours.'He believes companies can navigate these changes if they remain open-minded and embrace localisation, which involves real investment in capacity, financial capital, and human AI, which is fast redefining every domain, he believes, the technology holds significant potential in areas involving transactional tasks, however, large-scale and complex manufacturing processes are unlikely to be fully replaced by AI. In these domains, AI can drive substantial improvements in efficiency and cost-effectiveness, making it a valuable tool for operational Schaeffler is also 'carefully looking' at establishing a global capability centre (GCC) in India, further reinforcing the company's long-term commitment to the country.
Time of India
3 days ago
- Automotive
- Time of India
India is a reliable partner for us amid global challenges, says Schaeffler CEO
Pune: As the geopolitical landscape evolves, marked by tariff tantrums, economic uncertainty, and supply chain disruptions , Germany-based global automotive and industrial supplier, Schaeffler AG , sees India as a reliable partner with significant growth potential worthy of investment. The company has earmarked €100 million (₹900 crore approx, assuming €1 = ₹90) annually for investment in India over the next five years. 'In this geopolitical environment with all the tensions and stress in supply chains, with questions of who you are, and who you are going to be friends with, you need to be careful. I think our relationship with India has proven to be strong. We have always seen reliable partners here,' Klaus Rosenfeld , Global CEO of Schaeffler AG, said at a media roundtable held during his week-long visit to India. On Wednesday, the company inaugurated a new manufacturing plant in Shoolagiri, Tamil Nadu, focused on powertrain, chassis components, and advanced technologies. It also operates plants in Pune, Vadodara, and Hosur, along with three R&D centres. Over the last three years, ₹1,700 crore has been invested to enhance local capabilities. Currently, Schaeffler's business in India generates more than €1 billion in revenue. Rosenfeld further noted that the growth observed in India, along with government initiatives in infrastructure development, digitalisation, and investment in AI, all point in the right direction. Compared to other global markets, India offers a particularly conducive environment for growth. 'This is a friendly environment for us, where we feel that we can do much more,' he said. Globally, Schaefler operates across four main regions: the Americas, Europe, Greater China, and Asia Pacific--a region which is managed from Singapore, chosen for its connectivity and ability to effectively link this diverse and heterogeneous market. However, he emphasised that 'the real place to be' in the region is India. Citing the India-UK Free Trade Agreement as an example, he suggested it could serve as a model for the European Union (EU), adding that he hopes that the EU will 'get its act together' to establish a similarly cooperative relationship. While acknowledging the challenges involved, he emphasised the importance of fostering a friendly and reliable partnership based on win-win outcomes. ICE vs EVs Interestingly, the slower pace of EV adoption does not appear to be a major concern for Rosenfeld. He believes whether electrification happens faster or slower, customers will continue to purchase vehicles– whether they are electrified or internal combustion engine (ICE) cars. This diversity in demand serves as a hedge for consistent growth. He also identified electric two-wheelers as key to India's mobility future. Less common in Germany but essential in India, this segment will see focused investment from the company. Schaeffler is projecting a global automotive landscape in 2030 where ICE vehicles will account for approximately 30 per cent of the market, with hybrid vehicles and battery electric vehicles (BEVs) each making up around 35 per cent. Regional variations will apply as China, for instance, is already ahead of this curve, with BEV adoption significantly higher than the global average. Another hedge against bad times is vehicle lifetime solutions-- services such as repair and maintenance--as they generate consistent revenue, providing stability during economic downturns. 'In bad times, people don't buy cars. They repair cars," he noted. This strategy is reinforced by its 2023 acquisition of KRSV Innovative Auto (Koovers), a Bengaluru-based B2B e-commerce platform providing spare parts solutions to India's aftermarket workshops. Meanwhile, the CEO envisions Schaeffler being recognised as a Motion Technology company and moving beyond the traditional label of an automotive supplier , which he sees as only half the story. "When you consider our core technologies and the breadth of our product portfolio, it's all about motion," he explained. Global markets On global trade tariffs, Rosenfeld noted that we are moving into a multipolar world with the old idea of free trade being clearly challenged. 'For Europe, this is something of a wake-up call. It is ultimately about competitiveness,' he said. Reflecting on the shifting dynamics with China, he added, 'For a long time, Europe and particularly German manufacturers viewed China as a workbench. That perspective has completely changed and the landscape is shifting for global companies like ours.' He believes companies can navigate these changes if they remain open-minded and embrace localisation, which involves real investment in capacity, financial capital, and human capital. On AI, which is fast redefining every domain, he believes, the technology holds significant potential in areas involving transactional tasks, however, large-scale and complex manufacturing processes are unlikely to be fully replaced by AI. In these domains, AI can drive substantial improvements in efficiency and cost-effectiveness, making it a valuable tool for operational optimisation. Meanwhile, Schaefler is also 'carefully looking' at establishing a global capability centre (GCC) in India, further reinforcing the company's long-term commitment to the country.
Time of India
07-05-2025
- Automotive
- Time of India
Can Schaeffler navigate US tariffs and industry softness to meet its full-year forecast?
Schaeffler, a German machine and car parts maker, saw its first-quarter revenue decline. The revenue fell short of market predictions. The company attributes this to industry softness. However, Schaeffler believes the impact of US tariffs is manageable. CEO Klaus Rosenfeld acknowledges a challenging market. Trade conflicts create planning difficulties. The company is assessing how to handle tariff costs. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads German machine and car parts maker Schaeffler reported first-quarter revenue below market expectations due to general softness in the industry, but said the impact of U.S. tariffs on its business was said on Wednesday its revenue fell 2.9% in constant currency to 5.92 billion euros ($6.73 billion) in the January-March quarter, missing a Vara consensus estimate of 6.11 billion. It also confirmed its full-year CEO Klaus Rosenfeld told Reuters that the overall market environment was not set up for significant growth, while the ongoing trade conflicts made it harder to make reliable around U.S. tariffs have caused a number of companies, including automakers Mercedes-Benz , Stellantis, General Motors and Volvo Cars , to pull their financial tariff situation remains dynamic and therefore it is hard to calculate the final impact on Schaeffler's business, Rosenfeld said."We will assess how much of the tariffs' cost can be absorbed and how much can be passed on to customers in the different businesses," he said, adding that in their current form, the tariffs' impact seemed to be peers SKF and Valeo have previously said they were passing on tariff costs to than 80% of products invoiced by Schaeffler from Canada and Mexico are compliant with the United States-Mexico-Canada Agreement (USMCA), it said. Goods complying with the trade deal are excluded from Trump's duties."As some of our customers pick up parts that we produce in Mexico, the impact is rather smaller than people may expect," Rosenfeld from tariffs, Europe's auto sector is being tested by multiple hurdles such as high production costs, falling demand, rising competition from China, and managing the shift to electric vehicles.
