On November 1, Vitesco Technology released its 2026-2030 plan. Its China President, Gregoire Cuny, announced that the electrification business revenue of Vitesco Technology will reach 5 billion euros in 2026, and the compound growth rate from 2021 to 2026 will be up to 40%. With the continued growth of electrification business in the future, Vitesco Technology’s electrification business revenue target will reach 10-12 billion euros in 2030.
Gu Ruihua, President of Vitesco Technology China
In 2019, Vitesco Technology set a clear strategic goal at the beginning of its establishment, assisting the electrification transformation through the core technology of internal combustion engines, vigorously developing electrification business, and gradually abandoning the core business operations of internal combustion engines in China and Africa. Initial results have been achieved.
In terms of financial data, the electrification revenue of Vitesco Technology will reach 888 million euros in 2021, accounting for about 10.6% of the total revenue, while the gross profit margin will increase by 21.5 percentage points. In 2022, Vitesco Technologies’ electrification business revenue is expected to exceed 1 billion euros.
From the perspective of order acquisition, from the second half of 2021 to the first half of 2022, Vitesco Technology has received large orders for a number of electrified products, with a total order value of about 10 billion euros. These include 2.2 billion euros for the battery management system, 400 million euros for the all-in-one on-board charger, 2.6 billion euros for the high-voltage inverter (including an order of about 1 billion yuan from Great Wall Motor, which is expected to start mass production and supply in 2023), electric axle system 3.3 billion euros. In addition, the thermal management system has also received more than 1 billion euros of business orders in the autumn of 2022.
Post time: Nov-03-2022