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Plant opens for electric air conditioning compressors: MAHLE strengthens its systems competence in electric vehicles

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Plant opens for electric air conditioning compressors: MAHLE strengthens its systems competence in electric vehiclesStuttgart, October 31, 2018 – MAHLE has opened its first production plant for electric compressors. MAHLE will manufacture e-compressors for international automobile manufacturers at the production location in Balassagyarmat/Hungary and has already obtained several customer projects. Series production will start in 2019.
Presse releaseDownload [PDF; 43 KB] First MAHLE production line for e-compressorsElectric compressors remove the link between air conditioning systems and combustion enginesSeveral customer projects have already been wonCompressors are the heart of air conditioning systems—and the e-compressor will remove the link between air conditioning systems and combustion engines. Its role in the air conditioning of electric vehicles is therefore critical. “Electric compressors are of major strategic importance to MAHLE, because they enable us to build on our position as a complete systems provider in the field of air conditioning for electric vehicles too,” explains Dr. Jörg Stratmann, Chairman of the Management Board and CEO of the MAHLE Group. MAHLE also develops and produces the necessary electric drives as well as electronics and software.
The plant in Balassagyarmat will be particularly important when it comes to production rollout. “This location will help to further strengthen our existing market position,” adds Bernd Eckl, Member of the Management Board of the MAHLE Group and responsible for the Thermal Management business unit. At the same time, the opening of the production plant is a green light for the additional e-compressor production locations that will follow.
With the consistent implementation of its dual strategy—the further optimization of the internal combustion engine on the one hand and the simultaneous development of solutions for the widespread adoption of e-mobility on the other—MAHLE is instrumental in shaping the future of mobility as a key player in the automotive industry.
About MAHLEMAHLE is a leading international development partner and supplier to the automotive industry as well as a pioneer for the mobility of the future. The MAHLE Group is committed to making transportation more efficient, more environmentally friendly, and more comfortable by continuously optimizing the combustion engine, driving forward the use of alternative fuels, and laying the foundation for the worldwide introduction of e-mobility. The group’s product portfolio addresses all the crucial issues relating to the powertrain and air conditioning technology—both for drives with combustion engines and for e-mobility. MAHLE products are fitted in at least every second vehicle worldwide. Components and systems from MAHLE are also used off the road—in stationary applications, for mobile machinery, rail transport, as well as marine applications.
In 2017, the group generated sales of approximately EUR 12.8 billion with about 78,000 employees and is represented in more than 30 countries with 170 production locations. At 16 major research and development centers in Germany, Great Britain, Luxembourg, Spain, Slovenia, the USA, Brazil, Japan, China, and India, around 6,100 development engineers and technicians are working on innovative solutions for the mobility of the future.
For further information, contact:MAHLE GmbH
Margarete Dinger
Corporate Communications/Public Relations
Pragstraße 26–46
70376 Stuttgart/Germany
Phone: +49 711 501-12369
margarete.dinger@mahle.com

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Ford CEO says restructuring is ‘a massive undertaking’ that must be ‘very thoughtfully orchestrated’

Rebecca Cook | Reuters
Ford Motor Company president and CEO James Hackett

Ford CEO Jim Hackett said the company is still determining what steps it needs to take to completely redesign itself.

Ford is in the midst of a plan to restructure the company that is expected to cost at least $11 billion dollars and take several years. But investors have grown impatient and frustrated with the level of detail Hackett and other Ford leadership have given about their plans. Ford's stock has lost about a third of its value this year.

During a conference call Wednesday, Hackett said he understands the frustration over the lack of clarity, but Ford has to move cautiously. Earlier, Ford reported third-quarter earnings that beat expectations.

“What I remind everybody of is we first have to find the areas that need the attention,” Hackett said. “We're through that. We then have to design the solutions for them. We're through a lot of that but not all of it. And then we have to put them in place and perform. If you read hesitancy from me, it's not that we don't know where we're going or don't know how to do it, it's that there's a massive undertaking that we have to have very thoughtfully orchestrated. Because my experience in doing this, the worst thing we could do is disrupt our business and we aren't going to do that.”

Hackett has talked for months about the need to improve Ford's “fitness” or efficiency. And the company has announced at least some changes to its business.

In early 2018, Ford said it plans to phase out the production of passenger cars for the North American market, in favor of more popular and profitable trucks, SUVs and crossovers.

Then, in early October, Ford said it plans to make reductions to its salaried workforce of 70,000 employees. But fuller details on that won't come until the second quarter of 2019.

Hackett added on Wednesday's call that the company is already seeing some benefits from initiatives it has put in place. He cited the company's North American EBIT margin of almost 9 percent in the latest quarter as an example and said the company was “very happy” with its strong balance sheet.

“We are making great progress on the product portfolio and I can't emphasize that enough,” he said.

Ford will share more details on its progress on autonomous vehicles, its strategic partnership, and its restructuring efforts in “the coming weeks and months,” Hackett added.

In the wake of the earnings report, Ford shares were trading up more than 4 percent after the closing bell.

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