America first: Continental sister company Schaeffler investing across the pond
Welt am Sonntag quotes CEO Klaus Rosenfeld as saying Europe is in danger of becoming the “loser” in Schaeffler’s production footprint redistribution (Image: Screenshot welt.de)
Major German automotive components supplier Schaeffler Group, which like tyre and automotive systems firm Continental counts the Schaeffler family’s IHO Holding as a significant shareholder, is shunning investment at home and in Europe in favour of the USA. In addition to more advantageous energy prices, Schaeffler looks approvingly upon the USA’s more pragmatic approach to climate issues.
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