Schaeffler to close two factories due to electric car trend

As demand for electric vehicles increases, demand for internal combustion engine parts decreases and costs rise, Schaeffler has decided to close its factories in Austria and the UK. In Berndorf, Austria, bearing production has been stopped, mainly producing wheel hub bearings, wheel hub modules and transmission bearings. In Sheffield, UK, clutch production will also be stopped due to the shift to automatic transmissions and electrification trends in European internal combustion engine vehicles. The closure of these factories is part of Schaeffler's plan to cut 4,700 jobs in Europe.