March 2, 2015 / 11:04 AM / 3 years ago

ElringKlinger may cancel electric car contract: CEO

FRANKFURT (Reuters) - ElringKlinger may try to terminate a contract to supply a major customer with components for electric cars to halt continued losses at its E-Mobility business, the automotive supplier’s chief executive said on Monday.

“If there is no improvement we are going to terminate the contract and they will just have to see whether they get the stuff somewhere else,” Stefan Wolf told analysts during a conference call after the group reported disappointing 2014 financial results.

But he said ElringKlinger would have to give its customer, whom he did not name, time to find an alternate supplier of cell connector systems. ElringKlinger’s e-mobility technology is used among other for BMW’s i3 model.

Reporting by Maria Sheahan; Editing by Georgina Prodhan

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