Background

Tibor Szigeti has a degree in engineering and served as a professional soldier for almost nine years. His hobbies include hunting and spending time in nature. A family man and father of three children, Szigeti has been an employee of the Schaeffler subsidiary in Szombathely since 1999. Since 2017, he has been the managing director of the company, which has seen constant development under his management. From July 1, 2024, he leads Schaeffler’s Hungarian companies (Szombathely, Debrecen, Budapest) in the position of CEO.

What is the greatest challenge currently facing the industry?

One of the greatest challenges currently facing the automotive industry is the rapid transition to sustainable technologies. As a leading player, Schaeffler is deeply committed to this transformation, but it requires navigating significant shifts in technology, supply chains, and workforce skills. Additionally, balancing the push for innovation with the need for economic viability and scalability is a critical challenge. We must ensure that our advancements in automotive technologies, electric mobility, and digitalization are not only groundbreaking but also accessible and sustainable for the long term.

At Schaeffler Hungary, we’re focused on staying ahead of these changes by investing in research and development, upskilling our workforce, and fostering strong collaborations across the industry. We are in a constant state of growth, launching new investments and witnessing a continuous increase in orders. The dedication and excellence of our team are yielding impressive results, earning the trust of our customers and securing new projects.

What do you consider the most significant innovations in your line of business over the past decade?

Over the past decade, Schaeffler Hungary has significantly advanced in e-mobility, digitalization, and materials. Key innovations include electric drive systems, smart mechatronics, and new manufacturing technologies that enhance vehicle efficiency and sustainability. Our Szombathely R&D teams contribute globally, with recent patents and new e-motor components in serial production. Despite industry changes, demand for our traditional products remains strong.

How is the rise of electric vehicles impacting your sector of the automotive industry, and what initiatives is your company undertaking to adapt?

Diesel, petrol, gas, hybrid drives, or electric vehicles—which will become the dominant drive concept in the future? The world of mobility is changing in different ways depending on the environment—whether it is an urban or rural region, or an industrial or developing nation. We are working on a wide range of technologies for various drive concepts, markets, and regions. We supply technically and economically sophisticated solutions for the varied requirements of the automotive industry. Our product range is diverse and includes components and systems for vehicles with drivetrains based on internal combustion engines, as well as for hybrid and electric vehicle applications.

At Schaeffler, to strive for success means to strive for superior quality and first-class technology. We have distilled all these aspects into four core values: Sustainable, Innovative, Excellent, and Passionate. These values are the cornerstone of everything we want to achieve with our strategy. We have set ourselves ambitious targets. Despite all the progress we have made in recent years, we are aware that we still have a fair way to go. In a challenging market environment, our diversified positioning has proven to be a competitive advantage.

Our innovations, products, and solutions are ready for the future and make a decisive, sustainable contribution to it. The rise of electric vehicles (EVs) is reshaping the automotive industry, impacting traditional internal combustion engine (ICE) components, and presenting both challenges and opportunities. Schaeffler Hungary is adapting by expanding its portfolio to include electric drive components and specialized bearings for EVs alongside traditional ICE products. Since 2021, we’ve focused on developing technologies for e-mobility while continuously investing in R&D to optimize production for these innovations. Our strategic adaptability ensures we stay competitive and lead in both traditional and electric vehicle markets.

What do you foresee as the most significant opportunities and challenges for your business in Hungary?

Looking ahead, Schaeffler Hungary faces significant opportunities and challenges in the evolving automotive industry. According to Schaeffler’s scenario, 30% of vehicles are expected to be electric, 40% hybrids, and 30% combustion engines by 2030. One of the most significant opportunities lies in the continued growth of e-mobility. As demand for electric vehicles accelerates, we have the chance to expand our footprint in this sector by leveraging our expertise in both traditional and new technologies. Embracing digitalization and Industry 4.0 will enhance operational efficiency, improve product quality, reduce costs, and strengthen our global position.

However, these opportunities come with challenges. The ongoing transition requires significant investments in R&D, workforce retraining, and new production facilities. Adapting to this shift while maintaining our leadership in traditional automotive technologies is a delicate balance we must achieve. Additionally, the global economic environment presents uncertainties, from supply chain disruptions to fluctuating market demands. We must remain agile and resilient, ensuring that our operations in Hungary are prepared to respond to these external pressures.

2024 is a year of transition. We are going to integrate Vitesco Technologies (Debrecen 1 plant, more than 1,000 employees) and Ewellix (Budapest office), further expanding our product portfolio and increasing our workforce and available technologies. Additionally, we have plans for further expansion of our Szombathely facility. Our motion technology portfolio will be even more advanced to meet the complexity of customer demands. We are establishing the leading Motion Technology Company starting in 2025.

This article is set to be featured in the Top 50 Executives, The Most Influential Automotive Executives in Hungary 2024 issue of November 4, 2024.