Schaeffler AG, together with its subsidiaries, develops, manufactures, and sells components and systems for industrial applications in Europe, the Americas, China, and the Asia Pacific. It operates through Automotive Technologies, Vehicle Lifetime Solutions, and Bearings & Industrial Solutions divisions. The Automotive Technologies division offers mechanical, mechatronic, and electronic components and systems for powertrain electrification used in passenger cars and commercial vehicles, such as electric motors, axle transmissions, axle drives, power electronics, hybrid modules, electromechanical and hydraulic actuators, and thermal management modules; and torque converters, hybrid dampers, clutches, variable valve train systems, valve-lash adjustment elements, balancer shafts, camshaft phasing systems, timing drives, and front end auxiliary drives. This division also provides rolling bearing application and products, including wheel, ball, and needle roller bearings; and mechanical components and mechatronic systems for steering and other chassis applications comprising Space Drive, a steer-by-wire system. The Vehicle Lifetime Solutions division offers components and repair solutions for light commercial vehicles, trucks and buses, and offroad sectors under the LuK, INA, and FAG brands, as well as services for repair shops under the REPXPERT brand. The Bearings & Industrial Solutions division develops and manufactures rotary and linear bearing solutions, drive technology components and systems, and service solutions, such as sensor-based condition monitoring systems for the wind, raw materials, aerospace, rail, offroad, two wheelers, power transmission, and industrial automation sectors. The company was formerly known as INA Beteiligungsgesellschaft mit beschränkter Haftung and changed its name to Schaeffler AG in October 2014. The company was founded in 1946 and is headquartered in Herzogenaurach, Germany. Schaeffler AG is a subsidiary of IHO Verwaltungs GmbH.