BREAKING NEWS

BREAKING NEWS

Thyssen sees at least $1.2 billion in orders for E-car battery gear

Now Reading:

Thyssen sees at least $1.2 billion in orders for E-car battery gear

Thyssen sees at least $1.2 billion in orders for E-car battery gear
Text size Aa Aa

FRANKFURT/DUESSELDORF (Reuters) - Thyssenkrupp sees potential factory gear orders of more than 1 billion euros (£0.8 billion) over the next decade due to an expected production boom of lithium-ion batteries for the car sector, it said on Friday.

The German engineering and steel group said it expects lithium-ion batteries "to become the dominant electric vehicle propulsion technology", according to presentation slides published during its capital market day.

Thyssenkrupp, a leader in assembly lines for automated car battery production, derives about a quarter of group sales from the auto industry, making it its single biggest customer group.

($1 = 0.8523 euros)

(Reporting by Christoph Steitz and Tom Kaeckenhoff)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.