Schaffner receives multi-year order for new electric vehicle platform

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Schaffner receives multi-year order for new electric vehicle platform

Delivery of components in the low double-digit millions

The Schaffner Group confirms that it has received an order from a major European automobile manufacturer to supply components for a series-production electric drive vehicle. The multi-year order, with a value in the low double-digit millions, will impact on the Schaffner Group's sales from fiscal 2011/12 and will be completed over the approximately five-year lifespan of the vehicle platform.

“This largest order to date for power components for an electric vehicle marks an important milestone on the road to positioning the Schaffner Group as the leading international partner for innovative EMC and power quality solutions in the field of electromobility,” explains Alexander Hagemann, Chief Executive Officer of the Schaffner Group. “We are convinced that electromobility will become a key market for the Schaffner Group in the long term.”

The Schaffner Group develops and supplies both EMC and power quality components for electric drive systems in electric and hybrid vehicles and for the charging infrastructure. In recent years Schaffner has also established itself as a successful supplier of components for comfort and safety electronics in conventional automobiles.

Luterbach, November 22, 2010

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