Schaeffler expands EV parts production in Czech Republic, targets Chinese automakers

Schaeffler, the German industrial group, is pivoting from ball bearings to electric vehicle components, investing CZK 5 billion in a new plant in Ostrava, Czech Republic. The company reports early success in the EV mobility sector and is supplying Chinese automakers, indicating a strategic shift in its product portfolio and market focus. The investment underscores the ongoing transition in the automotive supply chain toward electrification.