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Rheinmetall Targets Electrified Growth
Germany’s Rheinmetall Automotive AG (formerly KSPG) predicts that components used in electrified vehicles will grow from 40% of its sales today to more than half of the company‘s volume by 2020.
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Germany’s Rheinmetall Automotive AG (formerly KSPG) predicts that components used in electrified vehicles will grow from 40% of its sales today to more than half of the company‘s volume by 2020.
The increase includes a just-announced €65 million ($70 million) contract to supply battery boxes to an unnamed German carmaker starting in mid-2018. Rheinmetall says the 19-lb aluminum boxes will be used in an all-electric crossover vehicle and an electric sports sedan to be sold in Europe.
Rheinmetall also is developing aluminium housings for electric drive units, electrically powered auxiliary units, lightweight structural parts, heat-pump components and range extenders for electrified vehicles. The heater/cooler module significantly reduces energy consumption in electric vehicles and can extend driving range as much as 30%, according to the supplier.
EVs could account for as much as 20% of new vehicle sales worldwide by 2025, predicts Horst Binnig, who heads Rheinmetall’s automotive business. He expects China to be a key market for the technology.
Last September the company changed its name from KSPG to Rheinmetall Automotive to better reflect the connection with parent Rheinmetall Group and its defense business, including transferring technology and products between sectors. For example, Rheinmetall aims to adapt the intelligence platforms used in the defense business for automotive cybersecurity systems. And the defense unit is expected to benefit from the automotive group‘s expertise in 3D prototyping, automated production processes and precision manufacturing.
Rheinmetall also is launching a new subsidiary, 3D Tech Gear GmbH, that will supply the company’s defense business. The startup also will develop and produce components for third-party companies across multiple industries.
The automotive group, which specializes in engine components, air systems and emission control products, generated about half of Rheinmetall Group's €5.2 billion in sales in 2015. Its brands include Kolbenschmidt, Pierburg and Motorservice.
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