Hyperdrive
Schaeffler Says EV Boom Gives Way to Rise in Hybrid Demand
- Electrification remains intact given emissions regulation: CEO
- US, China demand for hybrids boosts auto supplier’s order book
The wheel hub of a Schaeffler AG DTM electric racing car.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Schaeffler AG is slowing the ramp-up for all-electric components as drivers in the US and China prefer to buy hybrid vehicles with growing uncertainty around the speed of EV uptake.
“The EV boom has slowed down and there is clearly a renaissance of hybrid drivetrains,” Chief Executive Officer Klaus Rosenfeld said Tuesday in an interview. “As carmakers have to comply with emissions targets, the trend toward electrification is intact.”