As a company determined to remain at the forefront of its sector, automotive transmission engineer and manufacturer Xtrac has placed sustainability at the heart of its approach for a long time.
They have been a trailblazer in the sector’s transition from internal combustion engines to hybrid and electric. Its success is evidenced by the enduring global demand of their products, with c.70% of their products shipping to Australia, Asia, Europe, and the Americas.
We are in the midst of a once-in-a-generation opportunity as the automotive industry transitions from internal combustion to electric and hybrid. We are well placed to benefit from this, and it has been the focus of our growth.
In September 2022, hybrid and electric vehicles made up around 25% of the overall business. But within six months, Xtrac increased this to around 30%.
Xtrac also boasts a highly considerate environmental approach across its operations, from product development, manufacturing operations, chemicals use to waste recycling. The firm uses local suppliers and alternative packaging solutions, and has reduced its energy consumption.
In 2022, the business racked up a hat trick of admirable ESG accreditations. The first was attaining the ESGmark®, a standard which certifies that businesses are truly committed to making a positive difference to the environment, their clients, employees, and communities.
Xtrac recently achieved its second accreditation – having its carbon reduction target approved by the Science Based Targets initiative. The target is to reduce scope 1 and scope 2 GHG emissions by 42% by 2030, from a 2020 base year as part of moving towards carbon neutrality and ultimately Net Zero. Xtrac also introduced certified renewable electricity for its engineering and manufacturing headquarters in Berkshire.
The Living Wage Foundation provided Xtrac’s third significant accreditation in 2022, following its commitment to every company employee receiving a wage significantly higher than the UK government’s prescribed minimum. Offering employees liveable wages and a sector-leading package of benefits focused on wellbeing and professional development – alongside its increasing focus on the future of hybrid and EV – is enabling Xtrac to attract and retain the best talent.
Looking after our employees helps us look after our worldwide customers and other stakeholders, ensuring that we remain at the pinnacle of our industry as it transitions from internal combustion engines to hybrid and electric vehicles.
growth in hybrid and EV sales since 2021
GHG emission reduction target by 2030