SHW Automotive GmbH, a member of the SHW-Group, acquired 100% of the shares of Lust Hybrid-Technik GmbH, a provider of electronic and microsystem solutions, effective August 7, 2017. The acquisition aims to optimize vertical integration in SHW's electric pumps business and strengthen its position in electromobility.
SHW Automotive reported that an order from an unnamed electric vehicle manufacturer for electric axle drive pumps, with a lifetime sales volume of about EUR 100 million, was cancelled. SHW is assessing legal options.
German automotive supplier SHW Automotive GmbH said an unnamed electric car maker canceled a €100 million order for axle-drive pumps, originally awarded in September 2016, with production planned for the first half of 2017.
SHW Automotive GmbH has received a contract from an unnamed leading electric vehicle manufacturer to supply electric axle gear pumps, with a lifetime revenue of approximately €100 million. Production is expected to start in the first half of 2017 at the Bad Schussenried plant.