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The global automotive traction motor market is projected to grow at a CAGR of 33.7% from USD 4.1 billion in 2021 to USD 17.3 billion by 2026. Factors such as supporting government policies launch of new EV models, and advanced motor designs will drive the automotive traction motor market.
The electric vehicle industry has rapidly evolved with ongoing developments in design, features, engineering, and electric motor technologies. With the increasing stringency of government mandates regarding emissions caused by vehicles, the automotive industry is focusing on efficiency, emission-free propulsion, and innovative technologies. The high predicted growth of electric vehicles due to government mandates and global presence of major OEMs and Tier I suppliers is expected to drive the market.
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Schaeffler Korea selected as top employer of 2021
Posted : 2021-03-11 15:44
Updated : 2021-03-12 11:29
A worker walks past the Schaeffler Group logo on a wall at Schaeffler Korea s office in Seoul, Friday. Courtesy of Schaeffler Korea
Schaeffler Korea was selected as one of the top five employers in the local car industry by German research firm Statista, March 12.
Led by CEO Lee Byung-chan, the company is part of the Germany-based Schaeffler Group, a leading global supplier of bearings for the automotive and industrial sectors.
Statista releases a list of the best employers in different countries annually in partnerships with media giants such as Newsweek, the Financial Times and Forbes.
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