Technology group Schaeffler to showcase “Space Drive” at CES 2019 as a further breakthrough innovation for autonomous driving.

Manufacturing has changed its focus and approaches from pure cost to quality, productivity, energy efficiency and delivery performance in the last two decades.

The auto component major also successfully completed of merger of INA Bearings India and LuK India with Schaeffler India Ltd. The combined entity will have revenues of over Euro 500 million.

The company has announced successful completion of merger of INA Bearings India Pvt Ltd and LuK India Pvt Ltd with Schaeffler India Ltd

In conversation with Rakesh Rao, Kadam says that Schaeffler sees big opportunities in the country in areas of automotive and other sectors like wind energy, railways, steel, etc.

Germany-based Schaeffler AG has decided to take further steps to optimise and adapt the Schaeffler Group’s organisational and leadership structure. Previous measures involved the realignment of the industrial division effective January 1, 2017 and the addition of a third corporate division, Automotive Aftermarket, effective January 1, 2018. Building on these measures, the Executive Board has now decided that the Bearing Components & Technologies unit (BCT), which currently functions as an internal supplier, will be dissolved and that all Schaeffler plants without a divisional allocation will become part of either the Automotive OEM or Industrial division. The Automotive Aftermarket division will continue to be supplied by the Automotive OEM plants.

With governments around the world pursuing more stringent norms on emissions and fuel economy, companies are gearing up with new energy-efficient powertrain systems, says Rakesh Rao. With market for auto booming in Asia, global auto component companies are eyeing for bigger share of the market. Meanwhile, in India, the new emission norm (BS VI to be rolled out from April 1, 2020) is forcing companies to modify their powertrain systems. The demand for new products is also getting a boost with auto makers making their next generation powertrains.

Schaeffler India Limited announced that the Board of Directors approved the results for the first quarter ended March 31, 2018.

Schaeffler India announced that the requisite majority of the shareholders and creditors of the company have voted in favour of the scheme of amalgamation of the two unlisted entities, INA Bearings India Private Limited and LuK India Private Limited with Schaeffler India Limited. NCLT Chennai had dispensed with convening the meetings of creditors and shareholders of LuK India.