SCHAEFFLER PART OF VOLKSWAGEN’S FAST PROGRAM

The company has been recognised for its Innovative Strength and Strategic Orientation

Alfonso Sancha Garcia, Director of Group Procurement Powertrain at Volkswagen AG (second from left), personally presented Schaeffler’s FAST member award to Michael Vetter, Global Key Account Manager Volkswagen at Schaeffler; Matthias Zink, CEO Automotive of Schaeffler AG; and Prof. Peter Gutzmer, Deputy CEO and Chief Technology Officer of Schaeffler AG.

On the path towards decisively shaping mobility for tomorrow, Schaeffler says its close customer relations, expertise, and innovative strength have received important recognition.
The globally active technology company has become one of only a few suppliers to be included in Volkswagen’s FAST program and is thus more closely involved in a strategic dialog with the automobile manufacturer from Wolfsburg and at an earlier stage, says the company.
Schaeffler says that for decades, it has fostered a strong partnership with Volkswagen and many projects in the areas of engine, transmission and chassis systems have been realised thanks to this close collaborative partnership.
Together, both companies are facing the challenge of increasingly complex technologies and faster innovation cycles. As a leading technology partner, Schaeffler began carrying out basic research into hybridization and electric mobility years ago and now has an accordingly extensive product range with comprehensive system solutions. The range extends from 48-volt hybrid modules through to powerful high-voltage drive concepts, such as electric drive axles.
The initiative Future Automotive Supply Tracks (FAST) creates a framework to ensure that, together, these requirements are met. Volkswagen uses this initiative to ensure its most important suppliers are involved in a strategic dialog at an early stage.
This means that common fields of activity can be identified and innovations can be customised and implemented efficiently
and quickly. Schaeffler is one of only 60 partners involved in the FAST program and was chosen from a pool of 4,000 suppliers. During the selection process, criteria such as strategic relevance, performance, and innovative strength play an important role.
“We are proud to be part of this select circle”, Schaeffler AG CEO Automotive, Matthias Zink, said.
“This is confirmation for Schaeffler that it is optimally positioned in terms of the automotive future and increasingly complex drive architectures.”
In the future, an individual comparison will be carried out at least once per year, during which Volkswagen representatives will discuss their strategies with the relevant partner in order to identify potential areas of cooperation.

For more from the Schaeffler Group, visit www.schaeffler.com