Schaeffler’s turbocharger business in China, with revenue of approximately 100 million euros (2024) and around 50 employees (August 2025), is in decline Buyer is a Chinese specialist in turbocharger technology Purchase agreement signed today Transaction is part of the announced portfolio streamlining following the acquisition of Vitesco Schaeffler AG is selling its Chinese turbocharger business, which is in decline and consolidated under Vitesco Automotive Shanghai Co., Ltd., to Chengdu Xiling Power Science & Technology Incorporated Company (“Xiling”), a leading Chinese specialist in turbocharger technology. With this step, Schaeffler AG is implementing the portfolio streamlining strategy announced at its Capital Markets Day on September 16, 2025. “This transaction marks an important step in our efforts to streamline our business portfolio following the acquisition of Vitesco and to focus on the areas where we can remain competitive in the long term,” explains Klaus Rosenfeld, CEO of Schaeffler AG. “As announced during our Capital Markets Day on September 16, 2025, further steps will follow.” Schaeffler acquired the turbocharger business in 2024 through the acquisition of Vitesco Technologies. In the course of the bidding process, Xiling was selected as the preferred strategic partner. By acquiring Vitesco Automotive Shanghai Co., Ltd., Xiling intends to further develop its position among international automakers. As part of the transaction, measures have been put in place to ensure the continued supply of ongoing projects until the end of their production cycles, to minimize risks for customers, and to avoid disruptions to operations wherever possible. Most recently, Vitesco Automotive Shanghai Co., Ltd. employed around 50 people and generated revenues of approximately 100 million euros in the last financial year. The purchase agreement was signed today. The closing of the transaction is expected in the first half of 2026, subject to regulatory approvals and mutual agreement.