Thyssenkrupp launches Forging Technologies unit
Thyssenkrupp, a leading German manufacturer specialising in the engineering and metals sectors, has announced that it will be launching a new branch specifically designed to deal with its global forging activities.
The new branch, forging technologies, has been created in an attempt to cut thyssenkrupp’s reliance upon its combustion engine parts business, accounting for a quarter of the company’s operations.
“In the future we want to reduce our dependency on previous applications such as the traditional internal combustion engine, for which we still produce a large part of our forged components,” said Karsten Kroos, Head of thyssenkrupp’s components business.
Although the companies European steel business expects to prosper from the growing shift to electric vehicles amongst automotive manufacturers, this also may render many of the parts supplied by thyssenkrupp useless and not needed in the future.
Formed on 1 October, it will house 7,000 employees at 18 production sites, distributing to customers in more than 70 countries, accounting for approximately $1.2bn in sales.
“Central management of our worldwide production network will enable us to use our facilities more efficiently and align them even more closely to customer requirements,” Kroos continued.
The new unit is the combination of the company’s forging and machining and undercarriages units, two previously independent branches of the business.
Canoo Awards Manufacturing Contract to VDL Nedcar
Canoo, a trailblazing company in the electric vehicle (EVs) manufacturing industry, has officially announced owned and contract manufacturing plans that will ensure the company manages to deliver on its promise to consumers of production and delivery of vehicles in Q4, 2022.
During the company’s first Investor Relations Day, Chairman & CEO of Canoo, Tony Aquila, named VDL Nedcar as its contract manufacturing partner. VDL Nedcar, which I’m sure many of you will already have heard of, is the only independent Vehicle Contract Manufacturer in the Netherlands and has enjoyed fifty years of growth under owners, including Mitsubishi Motors and Volvo cars. According to the report, Nedcar will manufacture the Lifestyle Vehicle for the United States and European Union markets, while Canoo builds a US-based mega micro-factory.
"We conducted an exhaustive search, invested significant amounts of time and resources that span the globe, in our search for our Phase 1 contract manufacturer. VDL Nedcar is the right partner," said Tony Aquila, Investor, Chairman and CEO of Canoo, Inc. "They are the top trusted European manufacturer building high-quality products for leading OEMs, and they significantly outcompeted the other contenders. VDL is also independently owned by the van der Leegte family of entrepreneurs - which aligns with our commitment to support businesses that form the backbone of communities. This strategic partnership will enable us to deliver vehicles to market while we build our Phase 2 factory in Oklahoma. It also strongly positions us for geographic expansion in Europe and builds a lasting relationship with VDL Groep of companies. Our investment will help us scale quickly and fulfil our mission to bring affordable, purpose-built EVs to Everyone."
Canoo and VDL have already gotten to work on vehicle manufacturability and production planning so that Canoo can successfully lay the groundwork for its upcoming US manufacturing operations expansion, which will be completed in Oklahoma in 2022. The Nedcar facility currently expected to produce around 1000 units for both the US and European markets in 2022, with an additional 15000 targeted for the following year.
"Canoo's bold approach to designing and building electric vehicles makes them an ideal partner as we work together to shape the future of mobility," said John van Soerland, CEO of VDL Nedcar. "This partnership advances our strategic vision to provide a contract manufacturing solution and expand our expertise in the EV arena."
Currently, Canoo is entering its GAMMA phase of development and is on track to start production soon. The company intends and expects to launch its Lifestyle Vehicle in Q4 2022, closely followed by the Multi-Purpose Delivery Vehicle and Pickup Truck.
Watch this space.