Automotive industry Outlook 2024: "We hope for more stability in the markets"

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FAULHABER Drive Systems

Wuxi InfiMotion Technology Co., Ltd.

Markets and customer demands are changing, which is why Horiba Europe has started the year with a new structure. And with a new managing director, who gives us his outlook for 2024.

Mr. Urabe, what is your assessment of the year 2023 and what are your expectations for the year 2024?

Although we still feel the difficulties in the market triggered by the Corona pandemic and the conflict in Ukraine, 2023 was financially a good year for us. From a global perspective, we had one of the most successful years in terms of revenue. Our company is continuously growing, both in terms of the number of employees and through acquisitions. We look forward to the coming years and, like most companies, hope for more stability in the markets.

How did you respond to the various crises of the past two to three years, and how have you changed your company?

Our diversity makes us strong in the face of market fluctuations and crises. We have deep and broad expertise in various business fields, which helps us to more easily compensate for unexpected market developments than a company that may only specialize in a single area.

Regarding our mobility business, we began early to expand in new directions such as e-mobility and hydrogen, for example, through the purchase of Fuel Con in 2018. We have continuously invested further, whether in our facilities, technologies, or new employees, even in times of crisis. In particular, our e-mobility portfolio has grown significantly. Also, our solution for measuring brake dust is proving increasingly effective, especially in light of the upcoming regulations like Euro 7.

What has changed: We have optimized our corporate structure this year and now operate on the basis of three business groups. We still offer all the solutions we have offered before, but our new structure helps us to further merge technologies. The markets are changing and so are customer requirements. This is our proactive approach to meet our customers' needs.

Which dates, events, and product launches are you looking forward to in the new year?

The year 2024 has a lot to offer for us. However, I cannot go into too much detail here. One achievement we are very proud of is that our driving robot for automated vehicle testing was awarded the German Design Award, Excellent Product Design Industry, in January this year. Additionally, we are looking forward to launching our new PEMS – portable emissions measurement system – this year. Our e-motor test bench development is also currently working on new technical upgrades. Moreover, our brake testing portfolio now includes an upgrade kit that enables water, salt water, and fog tests on conventional brake test benches.

Regarding events, we have a lot planned for this year, including Hannover Messe, Euro Brake, and the Battery Show in Stuttgart, just to name a few.

What projects and topics are of the highest priority for your company in the year 2024?

As already mentioned, starting this year, we will be operating according to a business group concept. Our "Energy & Environment" group addresses, among other things, the increased demand for "new energy technologies" such as fuel cells, batteries, hydrogen, etc. At the same time, maintaining and developing our established portfolio remains an important part of the strategy. This applies, for example, to the traditional emissions area or brake test benches, etc.