By Pierre Bertrand
Thyssenkrupp said it will restructure its automotive technology business division in order to capitalize on the transition to electric vehicles and growing Chinese demand.
The German industrial company said that from the start of October, its automotive technology business would include four business units focused on chassis, components, forging and aftermarket needs.
Thyssenkrupp said the changes would enable it to strengthen its profit.
"With the new setup, the segment is positioning itself to exploit growth potential and become capital market-ready in the coming years," Thyssenkrupp said.
The division's current automotive body solutions, automation engineering and springs and stabilizers business units won't be integrated into the new structure, the company said.
It added that the current units would continue to be run separately and that the company was examining options for their future including new partnerships or ownership models.
In the last fiscal year to the end of September, Thyssenkrupp's automotive technology division posted sales of 7.5 billion euros ($8.68 billion).
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
June 24, 2025 10:06 ET (14:06 GMT)
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