Vitesco Technologies to Increase Capital by 1.2 Billion RMB in Tianjin

On August 2, TEDA Administrative Commission and Vitesco Automotive Tianjin Co., Ltd. signed a memorandum of cooperation for an investment project in new energy intelligent manufacturing and new products. Vitesco Technologies will sustainably invest 1.2 billion yuan in fixed assets. Utilized in new energy vehicle R&D platform and the production of key components, the investment aims to further promote the electrification business layout of Vitesco Technologies’ Tianjin plant. This will support the high-quality development of the new energy vehicle industry in TEDA and even the broader Tianjin region.

Thomas Stierle, Member of the Executive Board, Head of Electrification Solutions Division of Vitesco Technologies, expressed confidence in the development of Tianjin’s new energy vehicle industry. Vitesco Technologies has been cooperating with TEDA for many years and established a R&D center in TEDA in 2019. The center was an important move in the field of new energy vehicles and successfully facilitated the upgrading of its Tianjin plant into an integrated super factory for research, testing, and production. In the future, Vitesco Technologies will continue to increase its investment in the electric mobility sector and develop the Tianjin R&D center into a globally leading project in the field of electrification.