Schaeffler AG (SHA0.DE,SCAFF,SFFLY) Tuesday said that it has sold its declining Chinese turbocharger business to Chengdu Xiling Power Science & Technology Incorporated Co., a Chinese company specializing in turbocharger technology.
The purchase agreement was signed on November 4, with the transaction expected to close in the first half of 2026, subject to regulatory approvals, the company added.
On the XETRA Exchange, SHAO.DE is down 5 percent on Tuesday's trading at 6.72 euros.
The German manufacturer of rolling element bearings said that the latest sale is in line with the portfolio streamlining strategy announced earlier at its Capital Markets Day on September 16. The company added that the Chinese business, Vitesco Automotive Shanghai Co., Ltd., currently employs around 50 people and reported around 100 million euros in revenue last year. Schaeffler AG said that it had acquired the turbocharger business in 2024 through its purchase of Vitesco Technologies. Following a bidding process, Xiling was chosen as the preferred strategic partner and the acquisition is expected to help Xiling strengthen its position with international automakers.
As part of the deal, Schaeffler said that it has implemented measures to ensure the continued supply of ongoing projects until the end of their production cycles, avoiding operational disruptions.
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