STS Group AG achieves ‘breakthrough’ with a new order for electric vehicles in the Chinese market

DGAP-News: STS Group AG / Key word(s): Incoming Orders

05.09.2018 / 09:30 
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STS Group AG achieves “breakthrough” with a new order for electric vehicles in the Chinese market

Hallbergmoos/Munich, 05 September 2018. STS Group AG (ISIN: DE000A1TNU68) the worldwide system supplier for the commercial vehicle industry, listed in the Prime Standard of the Frankfurt Stock Exchange, has received an order to supply a battery cover for an electric vehicle model. This order is of strategic importance for the company in several aspects, as it also opens up a new segment: The STS Group thus becomes a Tier 1 supplier for an EV OEM in China.

“We are particularly pleased about this order to supply these special components for several reasons. On the one hand, it is a breakthrough for STS China to gain a sustainable foothold in the future market for electric mobility – with this order we also qualify as a Tier 1 supplier in this area. On the other hand, the order itself is a statement: A company from a country with great development potential in the field of e-mobility is building on our expertise in precisely this area – this greatly strengthens our work, as it strengthens our position in China and at the same time opens up a new field of application for our technology,” explains Andreas Becker, CEO of STS Group AG.