* Companies signed a strategic cooperation agreement
* Partnership on new materials based on high grade non-oriented silicon steel
* Jointly contributing to ambitious sustainability goals
August 25, 2023: Vitesco Technologies, a leading international provider of modern drive technologies and electrification solutions for sustainable mobility, signed a strategic cooperation agreement at its China headquarters with Baosteel, a leading steel conglomerate based in China. By making joint efforts on new materials based on high grade non-oriented silicon steel, the two companies aim to help sustainable mobility, promote the development of e-mobility technology, and create a model of shared value in the industry.
“The success and growth of Vitesco Technologies in this fast- developing market depend to a large extent on the strong support of our partners. Stepping into this cooperation with Baosteel, I believe we will strengthen our activities and goals in the area of technologies and sustainability,” said Gregoire Cuny, head of Vitesco Technologies China.
“The cooperation between Baosteel and Vitesco Technologies is a valuable process of win-win results. In 2018, we started the cooperation on the materials of motors on the EMR3 platform. Today’s strategic cooperation agreement will bring our partnership to a higher level and make more contributions to the e-mobility industry,” said Hu Hong, member of the Standing Committee of the Party Committee and deputy general manager of Baosteel.
Upgrading products with high-grade silicon steel
High grade non-oriented silicon steel, one of the cooperation targets, can be used in stator and rotor laminations for drive motors, and its high magnetic induction intensity as well as low iron loss features can significantly improve the efficiency and stability of motors. Furthermore, both parties will jointly carry out the development collaboration on related new materials and technology design to expand the use of this high-grade silicon steel in the automotive field.
The technical achievements are expected to be utilized in Vitesco Technologies’ e-drive systems and thermal management systems in the future. The high-quality performance brought by the electromagnetic performance and mechanical properties will help Vitesco Technologies to continuously provide leading electrification solutions.
Partnering for sustainability and carbon neutrality goals
Sustainability is at the core of Vitesco Technologies’ strategy. At the same time, carbon peak and carbon neutrality are also important goals to Baosteel. Based on this common concept, both parties will work together to explore carbon reduction measures and actively pursue their ambitious sustainability goals.
Vitesco Technologies has set itself the goal of achieving carbon neutrality in production and operation by 2030, and to realize carbon neutrality in the entire value chain by 2040 at the latest.