Brief: Vitesco Technologies Starts Production Of Electric Axle Drives In Korea

Vitesco Technologies AG

16/11/2023 09:13

Nov 16 (Reuters) - VITESCO TECHNOLOGIES GROUP AG
 VTSCn.DE :
    * STARTS PRODUCTION OF ELECTRIC AXLE DRIVES IN KOREA
    * THE SITE WILL DELIVER EMR4 UNITS TO HYUNDAI MOTOR GROUP
FROM
2024 ONWARDS FOR INTEGRATION INTO THE GLOBAL B/C ELECTRIC
VEHICLE SEGMENT
    * FULL SERIES PRODUCTION AT THE ICHEON SITE IS SCHEDULED TO
COMMENCE BY 2024.
    * EXISTING ELECTRONICS PRODUCTION IN ICHEON EXPANDED BY
2,800 M2
OF PRODUCTION SPACE FOR NEW EMR4 AXLE DRIVE GENERATION
    * NEW LINE HAS A CAPACITY OF OVER 200,000 EMR4 UNITS PER
YEAR
    * OVER ITS LIFETIME THE CONTRACT FOR EMR4  DELIVERY HAS A
TOTAL
VALUE OF MORE THAN €2 BILLION
    * IN TOTAL VITESCO TECHNOLOGIES HAS INVESTED MORE THAN €80
MILLION
IN THE SITE EXTENSION

Further company coverage:  VTSCn.DE 

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