Schaeffler to acquire Xtronic in the business of e-mobility

Schaeffler, acting via its subsidiary Schaeffler Technologies, signed a purchase agreement for the acquisition of Xtronic, a technology partner that develops customer-specific software and electronics solutions for the international automotive industry. The owner-managed company employs some 170 people at its locations in Böblingen and Wolfsburg, Germany, and provides services and solutions in a range of areas, including automated driving applications, electric mobility, functional safety, as well as methods, tools and test systems.

Founded twenty years ago, Xtronic worked closely with Paravan on the development of the Space Drive drive-by-wire system, bringing core expertise which will be of great benefit to the Schaeffler Group in areas such as steering systems and autonomous driving. Xtronic will be integrated into the Schaeffler Group as a separate German private limited company (GmbH). Its operational management will remain in the hands of its managing director and current co-owner, Daniel Schmid. Xtronic will continue to focus on its relationships with external customers, while at the same time developing and providing solutions within the Schaeffler Group.

Schaeffler’s expertise in product industrialization and system integration, its financial capability and market position open up completely new opportunities for Xtronic to scale its business model. The operation follows last year’s purchase of the Space Drive technology from Paravan by Schaeffler, and the takeover of the Elmotec Statomat, making the acquisition of Xtronic a logical next step in implementing the Group’s long-term business strategy, strengthening its software and electronics capabilities to develop mechatronic solutions for the mobility of tomorrow.

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