Schaeffler looks at China: a world-leading company’s journey of market learning

Article summary: Mattis Zink, CEO of Schaeffler's Technology Division, recently emphasized the importance of learning from the Chinese market and pointed out the agile development and innovation of local Chinese companies. Schaeffler, the German auto parts manufacturing giant, has made significant progress in electric drive and intelligent chassis innovation. The success of its global automotive industry chain and its recent acquisition of Vitesco Technology demonstrate its ambitions in the electric vehicle supply chain. Similarly, Tesla CEO Musk also spoke highly of the Chinese market, reflecting the important position of China's new energy vehicle industry in the international supply chain.

Recently, Schaeffler Technology Division CEO Madis Zink shared his views on the Chinese market in an interview. He mentioned that the rapid development and innovation capabilities of Chinese local companies are impressive. For Schaeffler, the Chinese market is not only a testing ground, but also an important environment for learning and growth.

Schaeffler, a German-based automotive parts manufacturer, is known for its global leadership in precision components for bearings, engines and transmissions. In the past five years, the company has invested heavily in electric drive and intelligent chassis fields to adapt to the development trend of the times. These efforts not only consolidate Schaeffler's position in the global automotive industry chain, but also enable it to make important progress in the electric vehicle supply chain.

Schaeffler's "Roadmap 2025" strategic plan aims to expand its influence in the electric vehicle supply chain, including the acquisition of Vitesco Technologies. These initiatives are expected to bring Schaeffler's annual revenue to a new high of 25 billion euros.

It is worth noting that Madis Zinke’s views echo Tesla CEO Elon Musk’s recent evaluation of the Chinese market. Musk spoke highly of the Chinese people's professionalism, manufacturing capabilities and achievements in AI innovation. This reflects the important position of China's new energy vehicle industry in the global market.

The dominance of Chinese brands in the country's new energy vehicle market indicates significant changes in China's auto industry. Today, China is not only the world's largest single market for new energy vehicles, but it is also constantly changing the international supply chain's view of the Chinese market.

Overall, China's achievements in industries such as new energy vehicles have not only impressed international brands, but also prompted them to learn from China's market strategies and innovation paths.

(Source: Electric Technology)