VW picks 55 strategic supplier-partners for ‘FAST’ initiative

Volkswagen has nominated a total of 55 strategic partners for 61 fields of competence under its ‘Volkswagen Future Automotive Supply Tracks’ (FAST) initiative.

The German automaker's aim is to jointly implement technological innovations for customers worldwide even faster than in the past. A key prerequisite for that is early involvement in the innovation process and synchronisation of both the corporate strategy and the production network between the strategic suppliers and the Group.

Dr. Francisco Javier Garcia Sanz, member of the Volkswagen Aktiengesellschaft Board of Management responsible for Procurement, is optimistic about the FAST initiative: "We now have a total of 55 partners, each of them outstanding in their respective field. We want to shape the automotive future together. I am looking forward to the dialog to make these partnerships even more efficient and sustainable for both sides."

At the first strategy conference, the ‘FAST Summit’, to be held on June 1, all nominated suppliers will meet with representatives from Group Procurement as well as Technical Development to synchronize and refine the joint strategic goals. The focal themes will be innovation and globalisation.

The FAST initiative will also optimise collaboration processes. Procurement's new innovation point is the primary contact for suppliers and is responsible for the central coordination of themes and ideas.

A total of 44 suppliers with whom the company will be working hand in hand to master the challenges of the future for the automobile industry were already nominated in the first wave last year. Now, further partners for 13 fields of competence have been defined.

The full list of 55 strategic suppliers is detailed below: