Valmet Automotive now has successfully completed the sale of its Engineering Services business to Mutares SE & Co. KGaA, after having received the approval of the antitrust authorities.
Valmet Automotive is now focusing its engineering efforts on Electric Vehicles battery systems, on roof and kinematic systems, as well as the manufacturing engineering for its products, including the vehicle production. With the sale of the Engineering Services, Valmet Automotive stepped out of traditional vehicle development and combustion engine related technologies.
Frank Volk, Senior Manager, Corporate Communications, Valmet Automotive
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The Valmet Automotive Group is one of the largest vehicle contract manufacturers in the world, Tier 1 systems supplier for convertible roof systems and for battery systems. In its strategic development, Valmet Automotive Group focuses on electromobility with the development and manufacturing of battery modules as well as packs for electrified vehicles. The activities in the group are organized in three business lines: Manufacturing, EV Systems and Roof & Kinematic Systems. Since its founding in 1968, Valmet Automotive has produced more than 1.7 million vehicles at the Uusikaupunki, Finland plant. In Salo, near the Uusikaupunki plant, Valmet Automotive opened its first volume production of battery systems for the automotive industry in autumn 2019. The company has locations in Finland, Germany and Poland. Valmet Automotive’s largest shareholders are state-owned Finnish investment company Tesi and the Pontos Group, each with a stake of 38.46 %. 23.08 % is held by the Chinese Contemporary Amperex Technology Limited (CATL), the world leading manufacturer of battery cells for electric vehicles.