MAHLE achieves positive operating result for 2020 and makes a strong start to the transformation year of 2021
Electric drive motors for two-wheelers and electric cars along with power electronics and battery cooling systems will play a big part in MAHLE’s future
MAHLE, who are a leading international development partner and supplier to the automotive industry as well as a pioneer and technology driver for the mobility of the future, has had a strong 2020. Thanks to a strong second half, the Group was able to partially compensate for the severe sales slumps in the spring and to generate sales of about €9.8 billion (£8.5 billion/$13.7 billion).
This represents a fall of 16.7 percent compared with the previous year, in line with the slump in the world market for passenger cars and commercial vehicles as a result of Covid-19. The one area where the company has seen progressive growth is the electric vehicle (EV) sector and will be a key area of its future activity. the company is investing €12 million in five new testing and development facilities for electric vehicles, batteries and powertrains
MAHLE has been enabling the faster charging of the traction battery of hybrid and electric vehicles since last year. The newly developed high-performance condenser developed by the group will make electric vehicles more suitable for everyday use and the mass market.
In 2020, the e-bike segment launched the next generation of its e-bike drive system. Growth well into the double-digit range is expected over the next few years. MAHLE also expanded its network of global competence centres for e-mobility. A new global development centre for mechatronics and electronics was established in Kornwestheim near Stuttgart. In Fellbach, also near Stuttgart, MAHLE opened a new test rig for testing and developing electric axles and drive units.
Michael Frick, Chairman of the Management Board, said: “MAHLE is a modern technology group and our order books are well-filled. In the field of alternative drive systems, we won orders for electric drive motors for two-wheelers and passenger cars, power electronics, battery cooling systems, as well as electric compressors and water pumps. In our traditional business areas, demand for internal combustion engine products continues at a high level.”
MAHLE has further intensified its efforts to make its production processes and operational procedures more environmentally sustainable. These include, for example, clearly defined, binding and measurable targets for the reduction of its CO2 footprint.
MAHLE is committed to the Paris Agreement. By 2040, the Group intends to become carbon-neutral in accordance with Scopes 1 and 2 of the Greenhouse Gas Protocol. All German plants will be switched to carbon-neutral operation by the end of 2021. At the same time, MAHLE is engaging in intensive dialogue with its suppliers to ensure that sustainability is also firmly established in its supply chain.
The 2021 financial year has started in a positive way for MAHLE and expectations were exceeded in the first quarter. Despite the continuing risks as a result of a variety of factors including the Covid pandemic, delivery bottlenecks and political regulation, the Group expects a significant rise in sales and a positive result for the year as a whole.