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Daily Newsletter

21 August 2023

Daily Newsletter

21 August 2023

Baosteel to supply Vitesco

Materials for stator and rotor laminations used in drive motors

Luke Martin August 18 2023

Vitesco Technologies agreed a deal with Baosteel to supply new materials based on high grade, non oriented silicon steel.

The deal is for materials for stator and rotor laminations used in drive motors.

High grade, non oriented silicon steel has strong magnetic induction and low iron loss features, enhancing motor efficiency and stability.

The deal extends to technology design and further expansion in the automotive sector.

Both companies planned to promote the use of high grade silicon steel in upcoming e-drive systems and thermal management products.

Tyres and exhaust systems expected to dominate the automotive aftermarket industry

Today’s consumers have a great desire to customize and distinguish their vehicles. The demand for aftermarket extras, including specialized wheels, performance upgrades, interior renovations, audio systems, and aesthetic alterations, has increased owing to this trend. Per GlobalData estimates, the global automotive aftermarket industry will be valued at $677 billion in 2023 and is expected to grow at a CAGR of 5.8% by 2030.

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