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Companies signed a strategic cooperation agreement

Vitesco Technologies, a leading international provider of modern drive technologies and electrification solutions for sustainable mobility, signed a strategic cooperation agreement with Baosteel, a leading steel conglomerate based in China. By making joint efforts on new materials based on high-grade non-oriented silicon steel, the two companies aim to promote sustainable mobility and the development of e-mobility technology, as well as to create a model of shared value in the industry.

The success and growth of Vitesco Technologies in this fast-developing market depend to a large extent on the strong support of our partners. Entering into this cooperation with Baosteel, I believe we will strengthen our activities and goals in the area of technology and support our strategic focus on being a “Driver of Sustainability”.”

Gregoire Cuny, head of Vitesco Technologies China

“The cooperation between Baosteel and Vitesco Technologies is a valuable process of win-win results. In 2018, we started the cooperation on the materials of motors on the EMR3 platform. Today’s strategic cooperation agreement will bring our partnership to a higher level and make more contributions to the e-mobility industry,” said Hu Hong, member of the Standing Committee of the Party Committee and deputy general manager of Baosteel.

High-grade non-oriented silicon steel, one of the cooperation targets, can be used in stator and rotor laminations for drive motors, and its high magnetic induction intensity as well as low iron loss featur­es can significantly improve the efficiency and stability of motors. Furthermore, both parties will jointly carry out the development collaboration on related new materials and technology design to expand the use of this high-grade silicon steel in the automotive field.

The technical achievements are expected to be utilized in Vitesco Technologies’ e-drive systems and thermal management systems in the future. The high-quality performance brought by the electromagnetic performance and mechanical properties will help Vitesco Technologies to continuously provide leading electrification solutions.

Sustainability is an integral part of Vitesco Technologies’ business model and at the core of its mission “Powering Clean Mobility”. At the same time, carbon peak and carbon neutrality are also important goals to Baosteel. Based on this common vision, both parties will work together to explore carbon reduction measures and actively pursue their ambitious sustainability goals.

Vitesco Technologies has set itself the goal of making its production operations up to 100 percent CO2 neutral by 2030 and all business processes along the value chain completely CO2 neutral by 2040 at the latest.

SOURCE: Vitesco Technologies