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GENTHERM INCORPORATED

(THRM)
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Gentherm's Battery Performance Solution Wins 2021 Chinese Industry Development and Innovation Award

11/22/2021 | 08:11am EST

NORTHVILLE, Mich- Gentherm (NASDAQ: THRM), a global market leader and developer of innovative thermal management technologies, was named a winner of a 2021 China Automobile and Parts Industry Development and Innovation Award for its innovative and proprietary Cell Connecting Systems with Mechanical Structuring Process (MSP) technology that is part of the company's Battery Performance Solutions (BPS). This award, sponsored by Automobiles and Parts Magazine, recognizes technology that deeply impacts the future development of the automotive industry.

Gentherm's Cell Connecting Systems with MSP technology utilizes innovative foil-based connecting boards that replace complex sensor cable harnesses with ultra-flat foil conductors that are thinner and lighter than previous models. This provides for several advantages including reduced manufacturing complexity, and a simplified design process. In addition, this design allows for different metal conductor materials and a modular structure that can be adopted to almost any number of cells. The fully automated production process involves no chemical etching, making for an environmentally friendly product.

The integrated Cell Connecting System with MSP technology provides reliable and continuous flow of temperature and cell voltage information during the charging and discharging process to ensure electric vehicle battery optimal performance and safety.

'We are honored to receive this respected award for our Cell Connecting Systems with Mechanical Structuring Process technology,' said Thomas Stocker, Senior Vice President and General Manager of Digital Interiors and Battery Performance Solutions for Gentherm. 'With our customers' increasing need for solutions to navigate the growing electric vehicle market, we are excited to deliver innovative technology that will help drive this new electric future.'

'Gentherm has a long and successful history of working with Chinese OEMs and battery makers to deliver extraordinary solutions,' said Hui (Helen) Xu, Senior Vice President and General Manager, Climate and Comfort Solutions and Managing Director of Asia. 'We are grateful to receive this award from Automobile and Parts Magazine, as it showcases our commitment to developing products that benefit the automotive industry globally and within China.'

Investor Contact

Yijing Brentano

investors@gentherm.com

248.308.1702

Media Contact

Melissa Fischer

media@gentherm.com

248.289.9702

About Gentherm

Gentherm (NASDAQ:THRM) is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications. Automotive products include variable temperature Climate Control Seats, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery performance solutions, cable systems and other electronic devices. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing and new markets. Gentherm has more than 11,000 employees in facilities in the United States, Germany, China, Hungary, Japan, Korea, North Macedonia, Malta, Mexico, United Kingdom, Ukraine, and Vietnam. For more information, go to www.gentherm.com.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 1 030 M - -
Net income 2021 80,1 M - -
Net cash 2021 156 M - -
P/E ratio 2021 38,0x
Yield 2021 -
Capitalization 3 070 M 3 070 M -
EV / Sales 2021 2,83x
EV / Sales 2022 2,51x
Nbr of Employees 11 519
Free-Float -
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Number of Analysts 8
Last Close Price 92,38 $
Average target price 91,20 $
Spread / Average Target -1,28%
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Phillip M. Eyler President, Chief Executive Officer & Director
Matteo Anversa Chief Financial Officer, Treasurer & EVP-Finance
Ronald T. Hundzinski Non-Executive Chairman
Matt Fisch Chief Technology Officer & Senior Vice President
Rafael Barkas Senior VP-Operations & Supply Chain
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