The parts maker raised its 2025 revenue target by 20% from last year. — Bloomberg
TOKYO: Japanese automotive supplier Denso aims to increase its revenue from electrification to 1.2 trillion yen (US$8bil) by the 2025 business year and 1.7 trillion yen by the turn of the decade, it says.
Denso said yesterday it aimed to grow its revenue from advanced-driver assistance systems to 520 billion yen by the 2025 business year and said it would further unwind cross-shareholdings, according to presentation materials.
The parts maker raised its 2025 revenue target by 20% from last year due to steady expansion of sales of inverters, thermal management and power supply systems as well as the tailwind from a weak yen, chief financial officer Yasushi Matsui told media during a briefing.
“As electrification centred on battery electric vehicles progresses from the 2025 business year onward, we want to reach 1.7 trillion yen by 2030 by expanding sales globally,” he said. — Reuters
