Schaeffler Group sells Bio-Hybrid subsidiary as pedelec production pushes forward

HERZOHENAURACH, Germany – Stock-listed automotive and industrial supplier, Schaeffler Group, which has been hit hard by the current automotive industry crisis has sold its subsidiary Schaeffler Bio-Hybrid GmbH via a management buyout to Meisterwerk Ventures GmbH. Following the buyout production of the company’s four-wheeled pedelec should finally start.