Auto Industry: Schaeffler Cancels Millions because of China – Forecast Confirmed

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The business of electric drives in Europe is booming, but demand for German e-cars in China is weak. Schaeffler wants to sell its e-technology more to Chinese manufacturers in the future.

Handelsblatt

Lean Right

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Due to the weaker e-car business in China, Schaeffler deducts millions of euros. Depreciation was mainly attributable to production plants.

wiwo.de

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European car manufacturers are hard to maintain on the Chinese market, which also puts a strain on suppliers such as Schaeffler.

Dagens industri

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The German engineering company Schaeffler, which competes with ball bearing company SKF, among other things, had preliminary revenue of 5.8 billion euros in the third quarter of 2026, which was unchanged compared to the corresponding quarter last year. The adjusted operating margin fell to 4.2 percent (4.5).

Világgazdaság

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Schaeffler may complete the elimination of 4,700 jobs earlier than planned. The automotive and industrial supplier's share price rose more than 5 percent after the announcement.