Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 10

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 10
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Our total product revenues for each of the past three years were divided among the OEMs as follows: 

    2024

    2023

    2022

    General Motors

    13
    %

    13
    %

    15
    %

    Volkswagen

    12
    %

    9
    %

    9
    %

    Hyundai

    9
    %

    10
    %

    11
    %

    Ford Motor Company

    9
    %

    7
    %

    8
    %

    BMW

    8
    %

    8
    %

    7
    %

    Mercedes-Benz

    7
    %

    8
    %

    7
    %

    Global EV manufacturer

    5
    %

    4
    %

    2
    %

    Honda

    4
    %

    4
    %

    4
    %

    Stellantis

    4
    %

    6
    %

    8
    %

    Jaguar/Land Rover

    4
    %

    3
    %

    3
    %

    Other (including Medical)

    25
    %

    28
    %

    26
    %

    Total

    100
    %

    100
    %

    100
    %

Production and Suppliers

Our global manufacturing and distribution facilities are located close to our key customers and strategically in low cost regions. In Automotive, we operate five manufacturing sites in Europe located within North Macedonia, Ukraine, Germany and Czech Republic and one distribution center located in Hungary. In North America, we operate three manufacturing sites in Mexico. In Asia, we operate three manufacturing sites in China and one in Vietnam, and one distribution center in South Korea. Further, we are in the process of continuing to optimize our footprint with investments in two new manufacturing plants, one in Morocco and one in China. 

For Medical, we operate three manufacturing sites within China, Germany and the United States.

We procure our raw materials from a variety of suppliers around the world. In the normal course of business, we do not carry substantial inventories of these raw materials in excess of levels reasonably required to meet our near-term production requirements. 

Proprietary Rights and Patents 

The development of new or improved technologies is critical to the execution of our business strategy. Currently owned patents