German car-parts supplier Schaeffler announced its plans to expand its operations in the U.S. by constructing a new factory in Ohio.
Investment and Job Creation
With an investment exceeding $230 million, the company will build the new plant in Dover, Ohio, and continue expanding in the state until 2032. In return for these investments, Schaeffler will receive incentives in the form of grants and tax credits. The expansion is expected to create 650 jobs in Ohio, with approximately 450 new positions at the new factory and the remaining 200 jobs distributed across the company’s existing facilities in the state.
Manufacturing Electric Axles
The new factory will focus on manufacturing electric axles for light and medium-duty vehicles, in addition to other products. Construction is set to commence in mid-2024 and is projected to be completed by the third quarter of 2025.
Statement from CEO
CEO Klaus Rosenfeld expressed confidence in the continuation of the trend towards electrification, stating, “We are convinced that the trend toward more electrification will continue. On that basis, we are committed to supporting our clients in achieving their emission reduction targets and realizing our growth ambitions.”
For further inquiries, contact Schaeffler at Schaeffler US.
